concepts underlying variance analysis

Q: What is variance analysis? Explain?

A: Variance Analysis: Variance analysis is the process of ascertaining the deviations between actual…

Q: When using a standard cost system what term refers to the differences between actual and standard…

A: Difference of actual and standard cost is measured to calculate the variance. The variances of cost…

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: TOTAL DM Variance,

A: Standard costing is used to determine the estimated expenses for the production process. In this…

Q: volume

A: The material total variance is the sum of material price variance and material quantity variance.…

Q: hat ty

A: Variance analysis is a summary statement which demonstrate the difference between planned…

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: Describe five factors that managers often consider when determining the significance of a variance.

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

Q: b) Calculate the variance and standard deviation.

A: Calculation of expected return Probability Return Expected return A B C=A*B 30% -13% -3.90%…

Q: Explain the difference between a favorable and an unfavorable variance.

A: Variance: The term variance is used under standard costing system. Variance is actually the…

Q: The incom

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Q: What is an activity variance and what does it mean?

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

Q: Define the term variance analysis.

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

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…

Q: Explain the concept of iso-expected return lines, iso-variance ellipses, and the critical line and…

A: Minimum variance frontier: It is a frontier that identifies those portfolios that have a minimum…

Q: When management uses variance reports to evaluate cost control, they look into which of the…

A: Standard costing means where standard is set for various cost element and actual cost is then…

Q: Write down two possible causes for each variance.

A: Variance refers to the differs between the budgeted and actual. It may be favourable and…

Q: Can someone give an example of Mean-Variance analysis?

A: Example for mean-variance analysis:

Q: Q.When inputs are substitutable, how can the direct materials efficiency variance be decomposed…

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Q: In general, variance analysis is said to provide information about _________ and __________…

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Q: Differentiate between variance analysis and sensitivity analysis

A: Managers of small businesses can benefit from both variance and sensitivity analyses when trying to…

Q: Variance analysis SIS

A: Under variance analysis a standard is set for all costs, revenues etc. and this is compared with the…

Q: Can someone give an example or scenario of mean-variance analysis?

A: Introduction: Mean-variance analysis is a method used by investors to make investment decisions on…

Q: Explain Measures of Variance and Risk?

A: Variance tests normal or normal variability. Variability is volatility for investors, and volatility…

Q: What should be the organizational purpose for identifying and calculating variances?

A: Management accounting:   It is the process of preparing the reports of a business operations helping…

Q: naterials yield variance.

A: We have to convert standard data to Actual Data Material A 1500 Material B.   625 Material C. 1000…

Q: What are the variances in a 4-variance analysis?

A: Variable overhead spending variance Variable overhead efficiency variance Fixed overhead spending…

Q: How does variance analysis help in continuous improvement?

A: Variance Analysis: Variance analysis is the process of ascertaining the deviations between actual…

Q: Define unfavourable variance.

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

Q: Pick out the two most significant variances that you computed in (1) above. Explain tMs. Dunn…

A: The difference between the standard figures and the actual results are called variances.

Q: unfavorable variances result from

A: Unfavorable variance:-It is a result of lower sales, higher expenses, or combination when actual…

Q: What is unfavorable variance? Give three examples?

A: Unfavorable Variance: Unfavorable variance is the variation in the actual and planned output which…

Q: B. Given the possible causes of the variances, identify the variance for each number and whether…

A: Identifying the names of variances and whether they are favourable or unfavourable is shown…

Q: Please calculate the variance

A: Expected Return or mean is the average return of the data given. Risk is the volatility around the…

Q: Define variance analysis.

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Q: A diagram showing interrelationships between two or more variables is called a

A: Histogram - Histogram is graphical display of data using bars. In histogram each bar groups numbers…

Q: Comment on the statement “A favourable variance is always better than an adverse variance” by…

A: Variance is the difference between actual numbers and budgeted numbers. Variance can be favourable…

Q: Variance Analysis

A: [Note: Since you have posted a multi-part question, we will solve the first 3 parts for you. For the…