Cost Factory wages Materials Power and light Maintenance a. Delmar Company Budget Performance Report-Supervisor, Chip Fabrication For the Month Ended June 30 b. C. d. Actual $34,110 60,530 4,700 6,930 $106,270 Budget 1. $31,880 60,960 3,950 6,330 J.. $103,120 $3,580 $(430) a. Complete the budget performance reports by determining the correct amounts for the lettered spaces (a-l) as marked above. 9. h. S Over Budget $2,230 750 600 (Under) Budget $(430)

Q: Define the term line positions.

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Q: Define Assigning.

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Q: Explain IO and PO Strips?

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Q: What are IO and PO strips?

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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.