FINANCIAL & MANAGERIAL ACCT W/ACCESS
9th Edition
ISBN: 9781265705732
Author: Wild
Publisher: MCG
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Chapter 21, Problem 15QS
To determine
Total Overhead Variance
The total overhead variance is the indifference between the projected overhead balances and the actual
Controllable Overhead Variance:
The controllable overhead variance is the deviation of budgeted overhead of standard number of units from the actual expenses incurred popularly within the factory overheads. Also, controllable overhead variance is confined to factory overheads irrespective of any in the volume. Through this the unexpected costs may be minimized by keeping the track record of expenses and comparing them with the standard ones.
Total overhead variance and controllable overhead variance for the period and classify them as favorable and unfavorable.
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What is variance analysis?; Author: Corporate finance institute;https://www.youtube.com/watch?v=SMTa1lZu7Qw;License: Standard YouTube License, CC-BY