Definition of variance analysis, Cost Accounting

Definition of Variance Analysis

Variance analysis can merely be defined like the process of analyzing the difference between the actual cost and the standard cost this variation is called the variance into its constituent parts. The purpose of variances is determined and management can take suitable measures.

Posted Date: 2/7/2013 6:05:37 AM | Location : United States







Related Discussions:- Definition of variance analysis, Assignment Help, Ask Question on Definition of variance analysis, Get Answer, Expert's Help, Definition of variance analysis Discussions

Write discussion on Definition of variance analysis
Your posts are moderated
Related Questions
Product Versus Period Costs Another way to look at manufacturing costs is to think of them as attaching to a product. In other words, goods result from the manufacturing proces

Raw Materials: Manufacturing Overhead Bal 1/1: 36,000 Credits: ? Debits: 383,000 Credits: ? Debits: 470,000 Bal: 12/3: 156,000 Work in Process: Bal 1/1: 73,000 Credits: 770,000

Banana Corporation had the following transactions relating to a patent: January 1, 2010: Purchased patent for $2,000,000. The patent had fifteen years remainnig although Banan

Q. Explain Break-even revenue? Sales revenue earned would give no profit and no loss. It can be computed by multiplying break-even volume (above) by products selling price, or

Three oligopolists, A, B and C, produce an identical product, Q. Q is produced under conditions of constant costs, that is, AC = MC = $100. The market demand schedule for Q is:

WORKED EXAMPLES OF EXPECTED CASH COLLECTIONS PATTERNS

Semi Fixed Costs Are costs along with both a variable and fixed cost component? The fixed component is such portion that is constant irrespective of the level of activity. The

Job Costing This is a costing method that is applied when a job or cost unit is relatively of small size, is undertaken to fit the customer's specifications and is of compara

The Clash Company uses Normal Job-Order Costing in its individual production department.  Overhead is applied to jobs by a predetermined rate, which is depend on machine hours.  Th

Learning Objective: After completing the project, the student will have gained familiarity, understanding and mastery of programming a realistic but simple application in Assembly