Schooner Corporation used the following data to evaluate its current operating system. The company sells items for $26each and used a budgeted selling price of $26 per unit.     Actual Budgeted Units sold 177,000 units 189,000 units Variable costs $1,089,000 $1,285,000 Fixed costs $809,000 $778,000   What is the​ static-budget variance of​ revenues?       A. $12,000 unfavorable   B. $12,000 favorable   C. $312,000 unfavorable   D. $312,000 favorable

Q: Lincoln Corporation used the following data to evaluate their current operating system. The company…

A: The static budget variance of variable  Cost = Actual  variable Cost  - Budgeted  variable Cost

Q: Ray's cost accountant prepared the following static budget based on expected activity of 2,000 units…

A: Lets understand the basics.Costs are mainly divided into two types which are,(1) Variable cost (2)…

Q: S Campbell Company has provided the following Year 2 data. Budget Sales Variable product costs…

A: INCOME STATEMENT Income Statement is one of the Important Financial Statement of the Company. Income…

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Q: Required information Use the following information for the Quick Study below. (Algo) [The following…

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Q: Calculate the total costs of production of 5,000 units:

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A: Solution: Actual operating income = sales - variable cost - fixed costs = 47000*10 - 167000 - 45000…

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A: Sales quantity variance =  (actual sales quantity- budgeted sales quantity) x budgeted contribution

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A: Flexible budget is a budget which is not rigid in nature and is prepared for the actual units, thus…

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Q: alculate the sales volume variance.

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Q: [The following information applies to the questions displayed below.] The fixed budget for 21,800…

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Q: Lincoln Corporation used the following data to evaluate their current operating system. The company…

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A:

Q: Munoz Educational Services had budgeted its training service charge at $69 per hour. The company…

A: Formula: Sales volume variance = ( Actual sales - Budgeted sales ) x Budgeted rate

Q: Zachary Company has provided the following for the year.       Budget       Sales $ 508,000…

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A:

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A:

Q: Edwards Corporation used the following data to evaluate their current operating system. The company…

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Q: Edwards Corporation used the following data to evaluate their current operating system. The company…

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A: Formula: Net operating income = Revenues - Variable costs - Fixed costs

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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.