Answered: Flexible-budget variance,…

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter10: Standard Costing And Variance Analysis

Section: Chapter Questions

Problem 9DQ: The budget variance for variable production costs is broken down into quantity and price variances....

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Flexible-budget variance, sales-quantity, market-size, and market-share variance. The actual contribution margin per unit will impact the following sales variance:

a. Flexible-budget variance

b. Market-size variance

c. Market-share variance.

d. Sales-quantity variance

Definition Definition Measure used to estimate the difference between the budgeted and annual proportion for a specific accounting year. A favorable budget variance refers to positive variances or gains, while unfavorable or negative variances refer to a shortfall in the budget. A budget variance is indicative of the instances where the actual costs incurred are higher or lower than the estimated costs.

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