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12 Cards in this Set
- Front
- Back
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What two reason can material costs be more or less then standards cost
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1) Actual production used more or less material then planned
2) the price of material was more or less then planned |
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How calculate material efficiency variance
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(standards quantity - actual quantity ) X standard price
or (SQ-AQ)SP |
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How do you calculate material price variance
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(standard price per unit - actual price per unit) x Actual quantity
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What two reason can labor costs be more or less then standard costs
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1) actual production requiring more or less time then planned
2) actual labor price more or less then planned |
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How do you calculate labor efficiency variance
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(standard time all - actual time taken) X standard labor price per hour
or (ST - AT)SR |
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How do you calculate labor rate variance
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(Standard rate per hour - actual rate per hour) X Actual time taken
or (SR - AR)AT |
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How do you calculate the fixed overhead spending variance
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Budget amount - actual amount
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How do you calculate the Variable overhead efficiency variance
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You may need to calculate the predetermined variable overhead rate first (allocated overhead amount/loabour hours)
Then Standards cost of flexible budget time allowance for units produced - standard costs of actual time time taken for units produced |
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How do you calculate the overhead spending variance
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again you will need the perdetemiuned overhead variable rate
then standard cost of actual time taken to produce units - actual costs incurred (variable overhead cost actual incurred) |
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How do you calculate the fixed overhead denominator variance
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You will need the predetermined fixed overhead rate (allocated fixed overhead amount/labor hours
Then budgeted overhead amount - applied overhead to units made |
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How do you calculate the sale volume variance
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(Actual sale - budgeted sales) X budgeted contribution margin for each product line and then take away
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How do you calculate Sale contribution variance
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(budget contribution/unit - actual contribution/unit) x actual sales
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