Related Accounting Q&AFind answers to questions asked by students like you. Show Q: What can you tell me about variance, as it concerns fixed or variable budgets? What is favorable… A: The question is related to Standard costing and Budgetory Comtrol. Variance may be defined as the… Q: If there were no variances, the company's absorption-costing net income would be A: Ans. P 325,000 25000 units @ P 30 = P750000 Less. Cost of Sale = P 425000 Net income = P 325,000… Q: This variance is the difference involving spending less or using less than the budgeted amount. A: Variance is the difference between budgeted, planned or standard cost with the actual cost. Q: Which of the following statements is false? * The sum of the sales volume variance and cost volume… A: Sales volume variance Analysis Sales volume variance analysis which can be determine to know the… Q: Which of the following underlying assumptions form(s) the basis for gross profit variance analysis?… A: Gross profit variance analysis is defined as the one which analyse the profit variance that comprise… Q: Write in detail the possible causes of each of the following variance. Direct materials price and… A: Variances: A cost variance is a difference between the actual expenses incurred and the standard… Q: Considering the variance analysis, which of the following statements is true? A: Variance analysis is the analysis which is the analysis only possible when the company has a… Q: Compute for the following: Sales price variance Cost price variance Quantity variance Format:… A: Variance is calculated for comparing results either between two years or between budget and actuals.… Q: A. Compute the material price and quantity, and the labor rate and efficiency variances. Enter all… A: Variance refers to the difference that is calculated by taking the actual cost that is incurred in… Q: The performance evaluation of a cost center is typically based on its a. sales volume variance. b.… A: Click to see the answer Q: How does the static budget affect the cost and efficiency variances? A: Definition: Static budget: Static budget is a master budget that is prepared for only one level of… Q: The performance evaluation of a cost center is typically based on its sales volume variance. ROI.… A: A performance evaluation system is a tool in the hands of the management which is used for periodic… Q: “As long as a firm sells more units than the units specified in the master budget, it will not have… A: Introduction: A budget can be described as a preparation tool that assists a firm in setting goals.… Q: Required: Compute the following variances in terms of contribution margin: 1. Compute the total… A: Furniluxe manufactures two types of study desks - one for the residential market other for the… Q: Flexible-budget variance, sales-quantity, market-size, and market-share variance. The actual… A: Sales Variance:The sales variance is the difference of budgeted amount and the actual amount. The… Q: 2.0p Which of the following statements about variances is correct? The sales-volume variance is due… A: Variance analysis refers to the comparison of predicted and actual outcomes. For example, a company… Q: Why are product cost variances (DM, DL, MOH) broken down and separated into price & quantity… A: Direct Material Variance Materials Price Variance- A variance which shows the difference between… Q: TRUE OR FALSE When actual production volume is less than expected volume, the production volume… A: Fixed factory overhead volume variance = (Budgeted hours -Standard hours required for actual… Q: Which of the following items would be useful to management in deciding whether to investigate the… A: Standard costs are the budgeted costs related with the production, manufacturing and selling of… Q: How can the sales-quantity variance be decomposed further? A: Sales quantity variance identifies the difference between budgeted contribution margin based on… Q: 3. Which of the following variances is least likely to be controlled by manager? a)Materials usage… A: Variance analysis is a very important technique of management accounting analysis. Under this… Q: Flexible-budget variance, sales-quantity, market-size, and market-share variance. The actual… A: Sales variance shows the difference between the actual sales and the budgeted sales for the period.… Q: Flexible Budget Variance Analysis Report Actual Flexible Sales-Volume Static Results Budget… A: Working Notes and formulas:- Note:- Dear student your question is lacking many valuable… Q: Which of the following would result to a favorable volume variance? a)There is a favorable… A: Favorable spending variance means when there is a cost to produce something which is less than the… Q: The Flexible-Budget Variance is the sum of a. The static-budget variance and the sales-volume… A: Flexible-Budget Variance = Actual results - Flexible results Q: The variance that arises solely because the actual units sold differs from the budgeted units to be… A: The variance that arises solely because the actual units sold differ from the budgeted units to be… Q: The sales price factor shows a variance of A: Sales price variance is the variance how much the deviation has been made during the year. It means… Q: To reconcile budgeted profit to actual profit under marginal costing, which variances must be… A: Marginal Costing is a method of costing, where the marginal cost, the variable cost is charged to… Q: Réquired: A. Compute the company's total cost variance for variable overhead and fixed overhead if… A: Click to see the answer Q: If production is more or less than the standard volume, is it possible that no flexible-budget or… A: Definition: Production-Volume Variance: It reports that amount which is the result of the… Q: Which of the following underlying assumptions form(s) the basis for gross profit variance analysis?… A: Gross profit is the difference between the sales revenue and cost of goods sold. Gross profit… Which of the following would cause a favorable overhead spending variance?A favorable variable overhead spending variance can be the result of paying lower prices than budgeted for variable overhead items such as energy.
What causes variable overhead spending variance?Example of Variable Overhead Spending Variance
A favorable variance may occur due to economies of scale, bulk discounts for materials, cheaper supplies, efficient cost controls, or errors in budgetary planning.
Why is variable overhead efficiency variance favorable?If actual labor hours are less than the budgeted or standard amount, the variable overhead efficiency variance is favorable; if actual labor hours are more than the budgeted or standard amount, the variance is unfavorable.
What is the variable overhead rate variance and the variable overhead efficiency variance?Definition. Variable Overhead Efficiency Variance is the measure of impact on the standard variable overheads due to the difference between standard number of manufacturing hours and the actual hours worked during the period.
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Which of the following would result in a favorable variable overhead spending variance?
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