Given the following information is the variance favorable or unfavorable? Flexible Budget Sales $100,000 Actual Sales $95,000 Group of answer choices Favorable/Unfavorable? 2- Given the following information is the variance favorable or unfavorable? Master Budget Variable Costs $100,000 Flexible Budget Variable Costs $95,000 Group of answer choices Favorable/Unfavorable? 3- Given the following information is the variance favorable or unfavorable? Master Budget Sales $100,000 Flexible Budget Sales $95,000 Group of answer choices Favorable/Unfavorable? 4- Given the following information is the variance favorable or unfavorable? Flexible Budget Fixed Costs $100,000 Actual Fixed Costs $95,000 Group of answer choices Favorable/Unfavorable?
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.
1-
Given the following information is the variance favorable or unfavorable?
| Flexible Budget Sales | $100,000 |
| Actual Sales | $95,000 |
Given the following information is the variance favorable or unfavorable?
| $100,000 | |
| Flexible Budget Variable Costs | $95,000 |
Given the following information is the variance favorable or unfavorable?
| Master Budget Sales | $100,000 |
| Flexible Budget Sales | $95,000 |
Given the following information is the variance favorable or unfavorable?
| Flexible Budget Fixed Costs | $100,000 |
| Actual Fixed Costs | $95,000 |
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