FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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The variable
A. acutal and budgeted units
B. actual and standard allocation base
C. actual and standard overhead rates
D. actual units and actual overhead rates
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- Under the three-variance method for analyzing factory overhead, whi.ch of the following is used in the computation of the spending variance? efficiency variance volume variance spending variance idle capacity variancearrow_forwardWhich method is used to see if a relationship between the cost driver and total cost exists? scatter plot variance analysis outlier account analysisarrow_forwardWhen is the direct labor time variance favorable? A. when the actual quantity used is greater than the standard quantity B. when the actual quantity used is less than the standard quantity C. when the actual price paid is greater than the standard price D. when the actual price paid is less than the standard pricearrow_forward
- criticly identify the possible causes of labour and material variancearrow_forwardiv) Labour rate variance v) Labour efficiency variance vi) Overhead variances (both) d.Comment on your calculations produced in c above.arrow_forwardWhich 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 incurredarrow_forward
- Which one is the correct answer?arrow_forward1.What is the labor rate variance ( indicate the effect of each variance by selecting "f" for favorable, U for unfavorable, and None for no effect and round your final answer to the nearest whole number) 2. What is the variable overhead efficiency variance ? ( indicate the effect of each variance by selecting "f" for favorable, U for unfavorable, and None for no effect and round your final answer to the nearest whole number) 3. what is the variable overhead rate variance?arrow_forwarddirect materials mix variance for this problemarrow_forward
- Which of the following is the difference between the actual cost of materials and thematerials cost allowed for the actual level of activity? a. Total materials variance b. Total materials regression c. Total materials cost d. Total materials margin e. None of thesearrow_forwardWhich of the following is the correct formula for the direct materials quantity variance? O a. (Actual Quantity - Actual Price) - (Standard Quantity Standard Price) O b. (Actual Quantity- Standard Quantity) * Actual Price O c. (Actual Price - Standard Price) × Actual Quantity O d. (Actual Quantity - Standard Quantity) x Standard Pricearrow_forwardThe variable overhead efficiency variance is computed and interpreted. a) the same as; the same as b) the same as; differently than c) differently than; the same as d) differently than; differently than the direct-cost efficiency variance.arrow_forward
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