1. Compute the direct material, direct labor and variable overhead variances.

Which method is used to see if a relationship between the cost driver and total cost exists? scatter plot variance analysis outlier account analysis

criticly identify the possible causes of labour and material variance

How is the fixed overhead volume variance different from the other variances?

iv)  Labour rate variance v)  Labour efficiency variance vi)  Overhead variances (both) d.Comment on your calculations produced in c above.

Which of the following is a correct equation to calculate the fixed overhead production-volume variance?   a. budgeted fixed overhead costs − fixed overhead costs allocated for actual output   b. static budget amount − flexible budget amount   c. actual costs incurred − fixed overhead costs allocated for actual output   d. flexible budget amount − actual costs incurred

Which one is the correct answer?

Describe income statement under variable costing.

Which of the following statements Is true? Multiple Choice The material quantity variance is recorded when overhead is applied to production. The material price and the material quantity variances are recorded at the same time., The materials quantity variance is recorded when materials are used in production. The materials quantity variance is recorded when materials are purchased.

The following direct materials and direct labor data pertain to the operations of Sandhill Company for the month of August. Costs Actual labor rate Actual materials price Standard labor rate Standard materials price $13 $120 $12.50 $124 Quantities per hour per ton per hour per ton Actual hours incurred and used Actual quantity of materials purchased and used Standard hours used Standard quantity of materials used 4,900 hours 2,000 tons 4,960 hours 1,990 tons