Calculate the production volume variance:

Q: Production-volume variance formula

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

Q: Organics Corporation uses two different types of labor to manufacture its product. The types of…

A: Labor mix variance :— It is the difference between Revised Standard hours at Standard rate and…

Q: What is the variable manufacturing overhead rate variance?

A: Variable Manufacturing Rate Variance = php300 (Favourable) Refer step 2 for explanation

Q: Marina Bottlers Inc., a leading softdrinks company is producing their bottle requirements. For each…

A:

Q: Compute the net overhead variance (indicate over- or underapplied manufacturing overhead)

A: Overhead Variance is the deviation of actual overhead incurred from the standard overhead…

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: Calculating the Direct Labor Rate Variance and the Direct Labor Efficiency Variance

A: The labor variance is the difference between standard cost for labor and actual cost for labor…

Q: Thank you, how did you get the Adjusted Production Volume Variance?

A: Production Volume Variance = It helps the businesses to assess their performance and how much they…

Q: For fixed overhead costs, compute the spending and the production-volume variances.

A: Spending Variance: Spending variance is the deviation of actual expenses from the budgeted expenses.…

Q: I need help determining the price volume variance

A: The volume variance is the difference between actual and estimated volume. Price variance is the…

Q: MASKING is a producer of student-mask for universities and has the following information for the…

A: Actual rate per hour = Total wages / Actual direct labor hours = 842400/104000 hours = RM8.10 per…

Q: 1. How is the flexible budget used within the variance analysis system to evaluate effectiveness and…

A: 1) Flexible budget refers to a budget that flexes with change in volume or change in activity. It is…

Q: The total manufacturing overhead variance is composed of flexible budget variance and production…

A: Manufacturing overheads means all type of indirect costs and expenses being incurred in business.…

Q: how to compute quantity/efficiency variance

A: Cost accounting is beneficial since it can demonstrate where a corporation spends money, earns…

Q: Mandy Co. adopted a standard cost system several years ago. The standard costs for the prime costs…

A: Material price variance = Total material variance - Material usage variance  = -450 - (-2250) =…

Q: The following information has been gathered from KLP. cormany's static budget for the most recent…

A: Material price variance = (Actual price per pound - Standard price per pound)*Actual quantity…

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: OMalley's standard labor cost of producing one unit of Product AB is 1.5 hours at a rate of $12.6…

A: Direct labor variance is the difference between standard direct labor cost for actual production and…

Q: Input Cost/Block Direct materials 0.5 Ib. @ $12/lb. $ 6.00 Direct manufacturing labour 1.4 hours @…

A: Variances mean the difference in the budgeted and actual figures. These can have both favorable (F)…

Q: MATERIALS MIX VARIANCE

A:

Q: Problem 6. Highland Coffee Company is concerned with its gross profit negating the increase of Its…

A: Gross profit variance is the difference of gross profit in two years. This shows how much gross…

Q: Direct Materials, Direct Labor, and Factory Overhead Cost Variance Analysis Mackinaw Inc. processes…

A:

Q: Give an example of a Direct Material Price Variance with figures and calculate the variance

A: Direct Material Price Variance is the difference between actual material cost and standard cost of…

Q: Shaw Incorporated began this period with a budget for 1,070 units of predicted production. The…

A: Variance analysis is an evaluation of the discrepancy between actual and planned data. The sum of…

Q: Bellingham Company produces a product that requires six standard pounds per unit. The standard price…

A: The calculation of direct materials price, quantity, and cost variance is as follows: The resultant…

Q: Assume the variance is material, what is the adjustment of the cost of good sold

A: Solution: Adjustment cost of goods sold vary based on variance in material or immaterial.

Q: The difference between budgeted overhead and the standard overhead applied at the actual units…

A: The overhead is applied to the production on the basis of the predetermined overhead rate. The…

Q: Use the following information to answer the next 2 question Standard machine hours per unit of…

A: Cost Variance - A cost variance is a difference between the cost that was actually incurred and the…

Q: How is the fixed overhead volume variance different from the other variances?

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

Q: Materials mix variance B. Materials yield variance

A: Material Mix Variance = SP( RSQ - AQ)  SP means Standard price  RSQ means Revised Standard quantity…

Q: Purvis Manufacturing, which produces a single product, has prepared the following standard cost…

A: The variance is the difference between standard data of production and actual costs incurred for…

Q: How do you find the standard quantity for efficiency variance?

A: Management should pay particular attention to those that are uncommon or noteworthy. Firms may…