A simple variance analysis performed on material costs gives the following results: Price variance 2,000 Adverse 3,000 Favourable Usage variance When the variance analysis was performed again using a planning and operational approach, the following results were obtained: $ Operational variances Price variance 1,000 Adverse Usage variance 2,000 Favourable Planning variances Price variance 1,000 Adverse Usage variance What is the planning usage variance? $1,000 Favourable $1,000 Adverse $2,000 Favourable $2,000 Adverse

A simple variance analysis performed on material costs gives the following results: Price variance 2,000 Adverse 3,000 Favourable Usage variance When the variance analysis was performed again using a planning and operational approach, the following results were obtained: $ Operational variances Price variance 1,000 Adverse Usage variance 2,000 Favourable Planning variances Price variance 1,000 Adverse Usage variance What is the planning usage variance? $1,000 Favourable $1,000 Adverse $2,000 Favourable $2,000 Adverse

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Description: A simple variance analysis performed on material costs gives the following results:SPrice variance2,000 AdverseUsage variance3,000 FavourableWhen the variance analysis was performed again using a planning and operational approach, the following resu

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter8: Standard Costs And Variances

Section: Chapter Questions

Problem 5MC: This variance is the difference involving spending less, or using less than the standard amount. A....

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