What is favorable variance? Give three examples?

Q: In some cases, a favourable variance can be as bad or worse as an unfavourable variance.

A: Favorable variances (FV) refers to generating more amount of revenue or income from the source than…

Q: Define Sharpe’s reward to variability ratio

A: Answer: Nobel Laureate William Sharpe developed a risk-adjusted efficiency indicator for mutual…

Q: How do you decide if the variance is favorable or unfavorable?

A: The discrepancy between budgeted and actual amounts is known as a "variance" in the accounting…

Q: What is the interpretation of the direct-material quantity variance?

A: Direct material quantity variance is a variance analysis tool for manufacturing companies. It shows…

Q: b) Why are separate price and quantity variances computed?

A: Variances is a word used for finding out the difference between the actual and standard levels set…

Q: Are the unfavorable variances always bad? Are the favorable variances always good? Why

A: Variance analysis is an important aspect of accounting. In variance analysis we compare the actual…

Q: significant of variance analysis in cost management.

A: Variance analysis is a tool in cost management to compare and analyze variations in budgeted costs…

Q: Explain favourable variance.

A: Definition:   Variance analysis: Variance analysis is the process of evaluating the differences…

Q: Calculate the following and determine if variances are favorable

A: Compute the total standard material cost.

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: explain activity variances and spending variances with example

A: Variance is defined as the difference between the actual and the budgeted or expected amount.…

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: Explain the difference between a favorable and an unfavorable variance.

A: Variance: The term variance is used under standard costing system. Variance is actually the…

Q: please solve for these questions:  b-1. What is the labor efficiency variance? b-2. What is the…

A: Variance analysis is a method of measuring the difference between the standard numbers expected by…

Q: Variance analysis would be appropriate to measure performance ina. profit centers.b. investment…

A: Variance analysis is a method used in business and financial management to assess and analyze the…

Q: Variance percentage is calculated by dividing the choose your answer... by the choose your answer...

A: Variation refers to the difference i.e. the difference between the current amounts with the budgeted…

Q: Define direct material variance.

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

Q: Distinguish between a favorable variance and an unfavorable variance.

A: Favorable Variance: Favorable variance is the variation in the actual and planned output which is…

Q: variances

A: Variance means change Variances arise after comparison with standard to Actual.   Types of Variances…

Q: Give an example of a Direct Material Price Variance with figures and calculate the variance

A: Direct Material Price Variance is the difference between actual material cost and standard cost of…

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

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

Q: How is the fixed overhead volume variance different from the other variances?

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

Q: What are some examples of variable consideration? What are the two approaches for estimating…

A: Variable consideration: It is an amount which is included in the contract as consideration. An…

Q: (b) Explain the reasons why Carad Co would be interested in the material price planning variance and…

A: The variations between predicted and actual results of a manufacturing process or other commercial…

Q: How do you find the standard quantity for efficiency variance?

A: Management should pay particular attention to those that are uncommon or noteworthy. Firms may…

Q: you find the PV factor?

A: The are two types of PV discount factors used PV Annuity  is used for a series of cashflows that…

Q: why is the variance added to the table

A: The volatility of the returns provided by a stock, portfolio or any other assets is measured through…