FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Step 1: Introduction:
Variance analysis is very important technique of management accounting, in which actual costs and revenues are compared with budgeted costs and revenues. Variances can be favourable or unfavourable for the organisation.The difference between budgeted result and actual result can be favorable or unfavorable. If the actual cost is higher than the budgeted cost , then it will be result in Unfavorable situation and vise a versa. If the actual revenue is higher than the budgeted revenue, then it will result in Favorable situation and vise a versa.
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- Required 1 Required 2 Calculate the activity variances for March. Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values. Utilities Maintenance Supplies Indirect labor Depreciation Total FAB Corporation Activity Variances For the Month Ended March 31 Show Transcribed Text Required 1 Required 2 FAB Corporation Spending Variances For the Month Ended March 31arrow_forwardCorrect answer please Do not give solution in image formatarrow_forwardplease answer complete and correct and correct with full working please please answer in text respected expert provide fully explained , computed and formulated answer or skip thanks . Attempt if you can answer correctly without copy paste from other answer otherwise skip but please please do not waste my question or time by giving incomplete or incorrect answer thanksarrow_forward
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