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16 Cards in this Set
- Front
- Back
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Material Price varience formula
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AQ(AP-SP)
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Material Quantity Varience
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SP(AQ-SQ)
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Labor Rate Varience
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AH(AR-SR)
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Labor Efficiency Varience
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SR(AH-SH)
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Overhead Rate Varience
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AH(AR-SR)
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Overhead Efficiency Varience
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SR(AH-SH)
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Net Varience
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Add up all variences
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If the parenthesis come in negative then...
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the total will be Favorable
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If the parenthesis come in positive then....
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the total will be Unfavorable
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Denominator Activity
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The activity fugure used to compute the predtermined overhead rate
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Static Budget
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Budget created at the beginning of a period that is only valid for teh planned level of activity
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Volume Varience
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The variance that arises whenever the standard hours allowed for the actual output of a period are different from the denominator activity level that was used to cmpute the predtermnied overhead rate.
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Management by exception
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looking at things that are above standards
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Ideal standards
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allow for no waste
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Budget deals with what?
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whole dollars
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Standard deals with what?
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per unit cost
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