Variance analysis the process of computingthe difference betweenSelect one:a. Standard cost and variable costb. Fixed cost and actual costc. None of the aboveO d. Standard cost and actual cost

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Description: Variance analysis the process of computingthe difference betweenSelect one:a. Standard cost and variable costb. Fixed cost and actual costc. None of the aboveO d. Standard cost and actual cost

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

Answered: Variance analysis SIS

Business

Accounting

Variance analysis SIS

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter8: Standard Costs And Variances

Section: Chapter Questions

Problem 20MC: The variable overhead efficiency variance is caused by the difference between which of the...

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Similar questions

Which of the following methods of cost estimation relies on only two data points? A. the high-low method B. account analysis C. least-squares regression D. SWOT analysis.
The variable overhead efficiency variance is caused by the difference between which of the following? A. actual and budgeted units B. actual and standard allocation base C. actual and standard overhead rates D. actual units and actual overhead rates
When using a standard cost system what term is used to denote that the actual cost is less than the standard cost? Group of answer choices favorable cost variance valid variance unfavorable cost variance none of the above
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.
The difference between actual Cost and standard cost is known as: Variance Profit Differential Cost
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Material Cost Variance can be segregated between: a. Mix Variance and Yield Variance b. Usage Variance and Mix Variance c. Price Variance and Usage Variance d. None of the options
In the cost equation TC = F + VX, “V” is best described as the: Multiple Choice intercept of the cost equation. total costs that do not vary with changes in the activity level. activity level used to estimate the dependent variable. slope of the cost equation.
1. Volume variance exists only under Group of answer choices a. Throughput costing b. Variable costing c. Full costing d. Direct costing
iv) Labour rate variance v) Labour efficiency variance vi) Overhead variances (both) d.Comment on your calculations produced in c above.
D.) Cost Price Variance E.) Cost Volume Variance F.) Total Gross Profit Variance G.) Price Variance H.) Price-Quantity Variance I.) Cost Variance J.) Cost-Quantity Variance
Explain how the high-low method determines:a. The variable portion of a semivariable cost.b. The fixed portion of a semivariable cost.