A Variance A. is the difference between variable cost value, or standard, and the indirect (realized)...
A Variance
| A. |
is the difference between variable cost value, or standard, and the indirect (realized) value. Variance analysis examines differences between last years and actual amounts with the goal of finding out why things went either badly or well. |
|
| B. |
between unit price and variable cost rate, or per unit revenue minus per unit variable cost. Thus, contribution margin is the per unit dollar amount available to cover an organization’s fixed costs and then to contribute to profit. |
|
| C. |
a mean for communications and coordination of organizational expectations as well as allocation of financial resources. In addition, budgeting establishes benchmarks for control. |
|
| D. |
is the difference between a budgeted (planned) value, or standard, and the actual (realized) value. Variance analysis examines differences between budgeted and actual amounts with the goal of finding out why things went either badly or well. |
Homework Answers
The answer is
D. is the difference between a budgeted (planned) value, or standard, and the actual (realized) value. Variance analysis examines differences between budgeted and actual amounts with the goal of finding out why things went either badly or well.
Variance analysis is done for budgeted vs actual amounts and analysis reasons for deviations so as to improve results in future.
Add Answer to:
A
Variance
A.
is the difference between variable cost value, or standard,
and the indirect (realized)...
U lu di stuttenng -- Saved The overhead cost variance is: The difference between the overhead...
U lu di stuttenng -- Saved The overhead cost variance is: The difference between the overhead costs actually incurred and the overhead budgeted at the actual operating level 0 The difference between the actual overhead incurred during a period and the standard overhead applied. 0 The difference between actual and budgeted cost caused by the difference between the actual price per unit and the budgeted price per unit 0 The costs that should be incurred under normal conditions to produce...
The overhead cost variance is: Multiple Choice The difference between the overhead costs actually incurred and...
The overhead cost variance is: Multiple Choice The difference between the overhead costs actually incurred and the overhead budgeted at the actual operating level. The difference betweene actual overhead incurred during a period and the standard overhead applied. The difference between actual and budgeted cost caused by the difference between the actual price per unit and the budgeted price per unit The costs that should be incurred under normal conditions to produce a specific product (or component) or to perform...
Overhead cost variance is: Multiple Choice The difference between the overhead costs actually incurred and the...
Overhead cost variance is: Multiple Choice The difference between the overhead costs actually incurred and the overhead budgeted at the actual operating level. The difference between the actual overhead incurred during a period and the standard overhead applied. The difference between actual and budgeted cost caused by the difference between the actual price per unit and the budgeted price per unit. The costs that should be incurred under normal conditions to produce a specific product (or component) or to perform...
7. Overhead cost variance is: a. The difference between the overhead costs actually incurred and the...
7. Overhead cost variance is: a. The difference between the overhead costs actually incurred and the overhead budgeted at the actual operating level. b. The difference between the actual overhead incurred during a period and the standard overedd app C. The difference between actual and budaeted cost caused by the difference between the actual price per unit and the budgeted price per unit. d. The costs that should be incurred under normal conditions to produce a specific product (or component...
answer all 37) The sales volume variance is the difference between the 37) Aj expected results...
answer all
37) The sales volume variance is the difference between the 37) Aj expected results in the flexible budget for the actual units sold and the static budget B) static budget and actual amounts due to differences in sales price C) flexible budget and static budget due to differences in fixed costs D) actual results and the expected results in the flexible budget for the actual units sold 38) 39) The static budget, at the beginning of the month,...
Volume variance represents the portion of overall variance caused by a difference between: the expected workload...
Volume variance represents the portion of overall variance caused by a difference between: the expected workload and the actual workload. the budgeted and the actual quantity of input needed per unit of output. actual and expected price of an input. None of these is correct.
QUESTION 9 A process of examining the differences between actual and budgeted costs and describing them...
QUESTION 9 A process of examining the differences between actual and budgeted costs and describing them in terms of the amounts that resulted from price and quantity differences is called: OA. Cost analysis B. Flexible budgeting. C. Variable analysis. D. Cost variable analysis. E. Cost variance analysis. 1 nainte Saved.
4. STANDARD COST SYSTEMS VARIANCE COMPUTATIONS Livingston Corporation recently implemented a standard cost system. The company's...
4. STANDARD COST SYSTEMS VARIANCE COMPUTATIONS Livingston Corporation recently implemented a standard cost system. The company's cost accountant has provided the following data to perform a variance analysis for May Standard Cost Information Direct Material Standard Price $12 per pound Standard Quantity Allowed Per Unit Direct Labor Standard Rate Standard Hours Allowed Per Unit Fixed Overhead Budgeted Normal Level of Production Variable Overhead Application Rate Fixed Overhead Application Rate ($24,000/12,000 units) Total Overhead Application Rate 4 pounds per unit $7...
_ 16. The total manufacturing cost variance is a. the difference between actual costs and standard...
_ 16. The total manufacturing cost variance is a. the difference between actual costs and standard costs for units produced b. the flexible budget variance plus the time variance c. the difference between planned costs and standard costs for units produced d. None of these choices
Variable overhead efficiency variance is the difference between the actual overhead rate and the standard overhead...
Variable overhead efficiency variance is the difference between the actual overhead rate and the standard overhead rate expected for the units produced. true or false
U lu di stuttenng -- Saved The overhead cost variance is: The difference between the overhead costs actually incurred and the overhead budgeted at the actual operating level 0 The difference between the actual overhead incurred during a period and the standard overhead applied. 0 The difference between actual and budgeted cost caused by the difference between the actual price per unit and the budgeted price per unit 0 The costs that should be incurred under normal conditions to produce...
The overhead cost variance is: Multiple Choice The difference between the overhead costs actually incurred and the overhead budgeted at the actual operating level. The difference betweene actual overhead incurred during a period and the standard overhead applied. The difference between actual and budgeted cost caused by the difference between the actual price per unit and the budgeted price per unit The costs that should be incurred under normal conditions to produce a specific product (or component) or to perform...
7. Overhead cost variance is: a. The difference between the overhead costs actually incurred and the overhead budgeted at the actual operating level. b. The difference between the actual overhead incurred during a period and the standard overedd app C. The difference between actual and budaeted cost caused by the difference between the actual price per unit and the budgeted price per unit. d. The costs that should be incurred under normal conditions to produce a specific product (or component...
answer all
37) The sales volume variance is the difference between the 37) Aj expected results in the flexible budget for the actual units sold and the static budget B) static budget and actual amounts due to differences in sales price C) flexible budget and static budget due to differences in fixed costs D) actual results and the expected results in the flexible budget for the actual units sold 38) 39) The static budget, at the beginning of the month,...
QUESTION 9 A process of examining the differences between actual and budgeted costs and describing them in terms of the amounts that resulted from price and quantity differences is called: OA. Cost analysis B. Flexible budgeting. C. Variable analysis. D. Cost variable analysis. E. Cost variance analysis. 1 nainte Saved.
4. STANDARD COST SYSTEMS VARIANCE COMPUTATIONS Livingston Corporation recently implemented a standard cost system. The company's cost accountant has provided the following data to perform a variance analysis for May Standard Cost Information Direct Material Standard Price $12 per pound Standard Quantity Allowed Per Unit Direct Labor Standard Rate Standard Hours Allowed Per Unit Fixed Overhead Budgeted Normal Level of Production Variable Overhead Application Rate Fixed Overhead Application Rate ($24,000/12,000 units) Total Overhead Application Rate 4 pounds per unit $7...
_ 16. The total manufacturing cost variance is a. the difference between actual costs and standard costs for units produced b. the flexible budget variance plus the time variance c. the difference between planned costs and standard costs for units produced d. None of these choices
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