The cost price variance is

Q: Production-volume variance formula

A: Variance: It implies to a difference between the actual and standard outcomes. If the actual outcome…

Q: Define sales volume variance.

A: Sales volume variance (also known as sales quantity variance) occurs when the actual quantity of…

Q: what are the possible causes of favourable Material usage variance

A: Introduction:- Standard costs are estimates of the actual costs in a company’s production process…

Q: Kranberry Networks Ltd had implemented a standard costing system to aid it in assessing the…

A: Material Price Variance = ( Standard Price - Actual Price) * Actual Quantity Material Quantity =…

Q: Which do you think is more important for controlling fixed overhead costs: the spending variance or…

A: (This is not a subjective matter of opinion but rather is based on accounting principles and theory…

Q: The materials price variance should be computed when materials are purchased. Group of answer…

A: Variance: The difference between the actual cost or price and the budgeted (standard) cost or price…

Q: Explain why a favorable sales-quantity variance occurs.

A: Explain the reason for the occurrence of favorable sales quantity variance:When actual sales exceed…

Q: What is the interpretation of the direct-material price variance and the direct-material purchase…

A: Definition: Variance: Variance refers to the different levels in the actual cost incurred and…

Q: I need help determining the price volume variance

A: The volume variance is the difference between actual and estimated volume. Price variance is the…

Q: Labour efficiency variance Fixed overhead price variance  Fixed overhead efficiency variance

A: Labour efficiency varianceLabour Efficiency Variance is the difference between the standard labour…

Q: rd allocation base C. actual and standard overhead rates D. actual units and actual overhead rates

A: Given: To explain the correct option with the given as,

Q: If the material price variance is favorable but the material quantity variance is unfavorable, what…

A: Variance analysis is method of analysis of actual data and budgeted data. This helps an organisation…

Q: The total manufacturing overhead variance is composed of flexible budget variance and production…

A: Manufacturing overheads means all type of indirect costs and expenses being incurred in business.…

Q: Explain direct labour efficiency variance.

A: Variance: Variance refers to the difference level in the actual cost incurred and standard cost. The…

Q: Define fixed overhead variance.

A: Fixed Overhead Variance is the difference between actual and absorbed fixed production overheads…

Q: When is the direct labor time variance favorable? A. when the actual quantity used is greater than…

A: Direct labor time is the time taken o produce a unit . when the standard time to make a unit is less…

Q: Which of the following equations can be used to compute a materials price variance (where AQ =…

A: Introduction: Materials price variance: Difference between the Standard price and actual price and…

Q: Variance analysis SIS

A: Under variance analysis a standard is set for all costs, revenues etc. and this is compared with the…

Q: what are the possible causes of favourable Labour efficiency variance

A: The capacity to employ labor in a manner that is consistent with expectations is what the labor…

Q: What are some possible reasons for a material price variance?

A: The reason for material price variance has been shown below

Q: Assume the variance is material, what is the adjustment of the cost of good sold

A: Solution: Adjustment cost of goods sold vary based on variance in material or immaterial.