Developing and insight into labour and material variance, Cost Accounting

Developing and Insight into Labour and Material Variance

The calculation of labour and material variances is not sufficient; we require knowing how the variance could have typically happened in the first place, and whether there is any connection among one causes of the variance to another. As an example: a higher price of materials could have resulted in a not favourable direct material price variance: although, because of the high quality though high priced input materials; it could have led to a favourable efficiency variance.

Posted Date: 2/7/2013 6:58:10 AM | Location : United States







Related Discussions:- Developing and insight into labour and material variance, Assignment Help, Ask Question on Developing and insight into labour and material variance, Get Answer, Expert's Help, Developing and insight into labour and material variance Discussions

Write discussion on Developing and insight into labour and material variance
Your posts are moderated
Related Questions
Commodities to Stock Employ Material Requirement Planning From the Master Production Schedule the manager has determined such the products to be produced. A

A 20-year bond pays a coupon of 8 percent per year (coupon paid semi-annually). The bond has a par value of $1000. What will the bond sell for if the nominal YTM is: a) 10 per


Determine Inventory Costs Mary Cosmetics sells specialty lipstick for a retail price of $12.25 each. Mary purchases each tube for $5.00 and pays the following additional amounts: $


Partner A (50%) Partner B (50%) sharing profits equally New partner introduced $13,000 total cash including $3000 as goodwill which is raised to its full value. Partner C

Comparison between Absorption and Marginal Costing Marginal Costing like a cost accounting system is considerably different from absorption costing. It is an optionally metho

Accounting for Labour costs We will contain an overview of accounting for labour costs as: a) Gross Earnings It is illustrated as item A that appears like a credit i

This is defined as an actual amount paid or incurred, as opposed to estimated cost or standard cost. In contracting, actual costs amount includes direct labor, direct material, and

With the internal rate of return, how can a company use the ROI methodology as a realistic measurement? Please discuss the pros & cons of each measurement statistic.