Related Accounting Q&A
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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.…
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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…