Bulldogs Inc. has the following variances in its gross profit variance analysis repo Type of Variance Sales Price Variance, 4-way Sales Volume Variance Amount Variance 4,000 Unfavorable 3,500 2,500 2,000 Unfavorable Cost Price Variance Unfavorable Volume Variance Favorable

Q: Production-volume variance formula

A: Variance: It implies to a difference between the actual and standard outcomes. If the actual outcome…

Q: Define sales volume variance.

A: Sales volume variance (also known as sales quantity variance) occurs when the actual quantity of…

Q: what are the possible causes of favourable Wage rate variance

A: Labor or wage Rate variance: The labor rate variance measures the difference between the actual and…

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: Which do you think is more important for controlling fixed overhead costs: the spending variance or…

A: (This is not a subjective matter of opinion but rather is based on accounting principles and theory…

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: what are the possible causes of adverse Material usage variance

A: The variation in material consumption is determined as the difference between the quantity of actual…

Q: What is the interpretation of the direct-material price variance and the direct-material purchase…

A: Definition: Variance: Variance refers to the different levels in the actual cost incurred and…

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: Give the general formulas for determining cost and efficiency variances.

A: Cost variance: Cost variance shows the difference of standard cost and actual costs. Efficiency…

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: Labour efficiency variance Fixed overhead price variance  Fixed overhead efficiency variance

A: Labour efficiency varianceLabour Efficiency Variance is the difference between the standard labour…

Q: what are the differences between the FIFO, LIFO, and the average cost?

A: Inventory: It refers to the items held by an organization which were in various forms like raw…

Q: What is the overall variance in overhead?

A: Overhead refers to secondary expenditures spent during the manufacturing and distribution of…

Q: What are some common challenges or complexities associated with bond amortization?

A: Bond amortization refers to the systematic allocation of the premium or discount on a bond over its…

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: Explain direct labour efficiency variance.

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

Q: what is weighted average cost method?

A: The weighted average cost method is one of the methods to ascertain the unit cost of a product. It…

Q: Define variance

A: Variance in statistics is the calculation of the distribution in an information source between the…

Q: variances

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

Variance Analysis

In layman's terms, variance analysis is an analysis of a difference between planned and actual behavior. Variance analysis is mainly used by the companies to maintain a control over a business. After analyzing differences, companies find the reasons for the variance so that the necessary steps should be taken to correct that variance. 

Standard Costing

The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.