Required information Gable Company uses three activity cost pools. Each pool has a cost driver. Information for Gable Company follows: Estimated Cost Driver 98,900 10, 250 Total Cost Activity Cost Pools Machining Designing costs Setup costs Cost Driver of Pool $474,720 Number of machine hours 103,525 Number of design hours 72,050 Number of batches 500 Suppose that Gable Company manufactures three products, A, B, and C. Information about these products follows: Product C 10,900 3,900 Product A Product B Number of machine hours Number of design hours Number of batches 39,000 4,100 49,000 2,250 50 170 280

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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.