Martin Company uses a two-way analysis of overhead variances. Selected data for September 2012 production activity are as follows:Actual variable factory overhead P 196,000 Standard direct labor hours 33,000 Variable overhead rate per DLH P6.00 Actual direct labor hours 32,000 Assuming that budgeted fixed overhead costs are equal to actual fixed costs, the controllable variance for September 2012

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A: The question is based on the concept of Cost Accounting.

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A: The variance is the difference between the actual and standard production data. The variance can be…

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A: Variable overhead variance is the difference between standard variable overhead cost for actual…

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A: Fill in the missing amounts.

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A:

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Q: 1) Factory Overhead Volume Variance Bellingham Company produced 5,100 units of product that required…

A:

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Q: The records of Heritage Home Supplies show the following for July: Standard direct labor-hours…

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Q: Use the information provided below to calculate the following manufacturing variances for March…

A: Variance analysis is one of the important technique of management accounting. Under this analysis,…

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A: The question is related to Standard Costing and is of Labor Variance.

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A: Labour cost variance means when there is difference between standard cost of labour and actual cost…

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A: Answer (1) To compute the volume variance, we need to compare the actual activity level with the…

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A: FLEXIBLE BUDGETA flexible budget is a budget that is prepared for different levels of activity or…

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Variance Analysis

In layman's terms, variance analysis is an analysis of a difference between planned and actual behavior. Variance analysis is mainly used by the companies to maintain a control over a business. After analyzing differences, companies find the reasons for the variance so that the necessary steps should be taken to correct that variance. 

Standard Costing

The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.