What do PRICE variances measure? Group of answer choices the difference between the price the company...
What do PRICE variances measure?
Group of answer choices
the difference between the price the company pays and the price its competitors pay
the change in costs over time
the difference between actual and standard cost
the volume discounts companies receive when ordering materials in large quantities
Homework Answers
Answer
--Price Variance = (Standard price - Actual Price) x qty purchased.
--Hence, correct Answer = Option #3: Price Variance measures "the difference between actual and standard cost".
Add Answer to:
What do PRICE variances measure?
Group of answer choices
the difference between the price the company...
Question 19 What does a cost variance measure? Not yet answered Marked out of 2.00 P...
Question 19 What does a cost variance measure? Not yet answered Marked out of 2.00 P Flag question Select one: O A. the volume discounts companies receive when ordering direct materials in large quantities O B. the difference between the cost the company pays and the cost its competitors pay OC. the change in costs over time O D. how well the business keeps unit costs of material and labor inputs within standards Question 20 Not yet answered Luong Machines...
Producer surplus is the Group of answer choices the difference between the willingness to sell and...
Producer surplus is the Group of answer choices the difference between the willingness to sell and the willingness to buy. the difference between the price and the opportunity cost of production. total revenues. the difference between what the consumer offered and the actual price.
17. When computing variances, the difference between standard price multiplied by actual quantity yields a(n): A....
17. When computing variances, the difference between standard price multiplied by actual quantity yields a(n): A. flexible budget B. planning budget C. actual results D. all of these E. none of these 18. When computing standard cost variances, the difference between actual and standard prices yields a(n): A. actual results B. volume variance C. price variance D. quantity variance E. none of these
15. The LaGrange Corporation had the following budgeted sales for the first half of the current...
15. The LaGrange Corporation had the following budgeted sales for the first half of the current year S 70,000 S 50,000 $ 40,000 S 340,000 S 190,000 S 135,000 January February March S 120,000 S 160,000 S 140,000 S 35,000 $ 45,000 S 40,000 April May June The company is in the process of preparing a cash budget and must determine the expected cash collections by month. To this end, the following information has been assembled: Collections on sales 60%...
Mastery Problem: Manufacturing Cost Variance (Actual Costs Compared to Standard Costs) Manufacturing cost variances may come...
Mastery Problem: Manufacturing Cost Variance (Actual Costs Compared to Standard Costs) Manufacturing cost variances may come from material costs that are higher or lower than expected, material usage that is not what was expected, higher or lower labor costs than expected, or more or less time spent to produce an item than expected. Overhead cost and volume variances are another cause for costs to be higher or lower than what was expected. The total manufacturing variance can be broken down...
A variance is: Question 6 options: The difference between actual and standard costs or quantities The...
A variance is: Question 6 options: The difference between actual and standard costs or quantities The amount awarded to workers in labor rate disputes The square of the standard deviation of wage rates from their average A settlement with a materials vendor in a price dispute over an account payable for material purchases
41 to 46 please 41) 41) A comeany s seting its dirr materia and drct laor...
41
to 46 please
41) 41) A comeany s seting its dirr materia and drct laor standards for its eading product. Direct materials cost from e supper are 19per square ootet of purdhase discount Freight-in foot Basic wages of the oemery ine personnel are $14 per hour amourts to so p matety 21% of wg Barets amount to $2 per hour How much is the Payroll taxes are appr die O) $1600 AL ats cot standard per square foor 91500...
Producer surplus measures the value between the actual selling price and the: Group of answer choices...
Producer surplus measures the value between the actual selling price and the: Group of answer choices profit-maximization price. deadweight loss price. price sellers are willing to sell the product. lowest price sellers are willing to sell the product. When the opportunity cost of producing carrots increases as more carrots are produced, then: Group of answer choices the production possibilities curve is a straight line. resources are equally suited to the production of carrots and to other goods. no more carrots...
Explain price, efficiency, intensity, and volume variances. What do they measure and what impact does the manager have o...
Explain price, efficiency, intensity, and volume variances. What do they measure and what impact does the manager have on this aspect of financial operations? How do managers determine which variances should be investigated? Explain the purpose of financial ratios and what issues should be considered when using them for comparing organizations? Explain the purpose and difference types of benchmarking.
2. Variable Manufacturing Cost BRIEF EXERCISES Variances LO4. 5,6 Companies incur a variety of variable manufacturing...
2. Variable Manufacturing Cost BRIEF EXERCISES Variances LO4. 5,6 Companies incur a variety of variable manufacturing costs, including those related to direct materials and direct labor. The following statements relate to vari- able manufacturing cost variances. a. Computing a price variance involves multiplying the difference in the actual quantity used and the standard quantity allowed by the actual price per unit. b. Usage, or efficiency, variances are appropriately calculated for direct materials, but not for direct labor. c. Traditional variance...
Question 19 What does a cost variance measure? Not yet answered Marked out of 2.00 P Flag question Select one: O A. the volume discounts companies receive when ordering direct materials in large quantities O B. the difference between the cost the company pays and the cost its competitors pay OC. the change in costs over time O D. how well the business keeps unit costs of material and labor inputs within standards Question 20 Not yet answered Luong Machines...
17. When computing variances, the difference between standard price multiplied by actual quantity yields a(n): A. flexible budget B. planning budget C. actual results D. all of these E. none of these 18. When computing standard cost variances, the difference between actual and standard prices yields a(n): A. actual results B. volume variance C. price variance D. quantity variance E. none of these
15. The LaGrange Corporation had the following budgeted sales for the first half of the current year S 70,000 S 50,000 $ 40,000 S 340,000 S 190,000 S 135,000 January February March S 120,000 S 160,000 S 140,000 S 35,000 $ 45,000 S 40,000 April May June The company is in the process of preparing a cash budget and must determine the expected cash collections by month. To this end, the following information has been assembled: Collections on sales 60%...
41
to 46 please
41) 41) A comeany s seting its dirr materia and drct laor standards for its eading product. Direct materials cost from e supper are 19per square ootet of purdhase discount Freight-in foot Basic wages of the oemery ine personnel are $14 per hour amourts to so p matety 21% of wg Barets amount to $2 per hour How much is the Payroll taxes are appr die O) $1600 AL ats cot standard per square foor 91500...
2. Variable Manufacturing Cost BRIEF EXERCISES Variances LO4. 5,6 Companies incur a variety of variable manufacturing costs, including those related to direct materials and direct labor. The following statements relate to vari- able manufacturing cost variances. a. Computing a price variance involves multiplying the difference in the actual quantity used and the standard quantity allowed by the actual price per unit. b. Usage, or efficiency, variances are appropriately calculated for direct materials, but not for direct labor. c. Traditional variance...
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