Excel Applications for Accounting Principles
Excel Applications for Accounting Principles
4th Edition
ISBN: 9781111581565
Author: Gaylord N. Smith
Publisher: Cengage Learning
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Concept explainers

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 …
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 t…
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Chapter 24, Problem 4R

The worksheet you have developed will handle most simple variance analysis problems. Try the problem below for Pscheidl, Inc.:

Chapter 24, Problem 4R, The worksheet you have developed will handle most simple variance analysis problems. Try the problem

Actual production for October was 11,500 units. Compute the direct materials and direct labor variances for Pscheidl, Inc. Be careful when entering your input because this problem presents the information in a different format from the McGrade Industries’ data. Save the file as PRIMEVAR4. Print the worksheet when done.

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Chapter 24 Solutions

Excel Applications for Accounting Principles

Ch. 24 - Prob. 1RCh. 24 - The president of McGrade Industries wants an...Ch. 24 - Prob. 3RCh. 24 - The worksheet you have developed will handle most...Ch. 24 - Close the PRIMEVAR4 file and open PRIMEVAR3. Click...
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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