The controllable variance measures a. operating results at more than normal capacity b. operating results at less than normal capacity c. the efficiency of using variable overhead resources d control over fixed overhead

The controllable variance measures a. operating results at more than normal capacity b. operating results at less than normal capacity c. the efficiency of using variable overhead resources d control over fixed overhead

Name: The controllable variancemeasuresa. operating results at more thannor
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Description: The controllable variancemeasuresa. operating results at more thannormal capacityb. operating results at less thannormal capacityc. the efficiency of using variableoverhead resourcesd. control over fixed overheadcosts

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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1. Why are standard cost systems used? 2. How are standards set for material, labor, and overhead? 3. How is variance analysis used for control and performance evaluation?
A scatter graph is used to test the assumption that the relationship between cost and activity level is ________. Question 8Select one: a. unpredictable b. curvilinear c. linear d. cyclical
Which of the following items would be useful to management in deciding whether to investigate the cause of a reported standard cost variance? O Cost-volume-profit analysis. O Simultaneous equations. O Linear regression analysis. O Iso-profit lines. Indifference probability.
iv) Labour rate variance v) Labour efficiency variance vi) Overhead variances (both) d.Comment on your calculations produced in c above.
please guve the the accurate answers only please What is the labor efficiency variance? answer: ??????? since it is unfavorable What is the variable overhead efficiency variance? answer: ?????????? since its unfavorable What is the variable overhead rate variance? answer:??????????? since it is unfavorable
An unfavorable overhead volume variance Indicates: Multiple Choice The actual variable overhead rate was less than the standard rate. The actual variable overhead rate was greater than the standard rate. Actual production was less than budgeted. Actual production was more than budgeted. 券
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?
Draw a graph showing budgeted and applied fixed overhead, and show an unfavorable (or positive) volume variance on the graph.
Wetherbee Tech Services (WTS) is a chain of computer maintenance technicians for households and small businesses. The following data are available for last year's services: • WTS recorded 120,900 tech calls last year. It had budgeted 126,800 calls, averaging 90 minutes each. • Standard variable labor and support costs per tech call were as follows: Direct IT specialist services: 90 minutes at $54 per hour Variable support staff, supplies, and overhead: 30 minutes at $24 per hour Fixed overhead costs: Annual budget $4,141,800 • Fixed overhead is applied at the rate of $36.00 per call. . Actual tech service call costs: Direct IT specialist services: 120,900 calls averaging 84 minutes at $56.00 per hour Variable support staff, supplies, and overhead: averaging 40 minutes per call at $22.50 per hour x 120,900 calls Fixed overhead Required: a. Prepare a cost variance analysis for each variable cost for last year. b. Prepare a fixed overhead cost variance analysis. Complete this question by…
1.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?
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