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

Ask an Expert

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

Write your message here..

Related Questions

Share capital of a company, A company has an authorized share capital of 25... A company has an authorized share capital of 250 million divided into 1,500,000 ordinary shares of sh.100 each and 1,000,000 preference shares of sh.100 each. 1,000,000 ordinary sh

Combined cash - bank account- cash book, The following is a summary of a ca... The following is a summary of a cash book for the year ended 31 April 2012 Payments                                              $              Receipts

Compute the irr, Matheson Electronics' Canadian Branch will help introduce ... Matheson Electronics' Canadian Branch will help introduce into Canada the just developed new electronic device which, when mounted on an automobile, will tell the driver how many m

Cost acunting, Weston Corporation manufactures a product that is available ... Weston Corporation manufactures a product that is available in both a deluxe and a regular model. The company has made the regular model for years; the deluxe model was introduced

Multiple product scenarios, Break-even analysis can be used to work out eit... Break-even analysis can be used to work out either a break-even volume or revenue, as per given a multiple product scenario. This is achieved using 'average contribution per unit'

Accounting for labor, weekly working hour 48 , hourly wage rate 15$ , pri... weekly working hour 48 , hourly wage rate 15$ , price rate per unit 6$ , normal time taken per piece 36 minuets , normal output per week 220 pieces , actual output per week 275 pie

Idea behind activity-based costing, Idea behind Activity-Based Costing ... Idea behind Activity-Based Costing The most important ideas behind activity-based costing are as given as: Activities cause costs; activities involve ordering, ma

Cost bookkeeping, what are the accounting entries for interlocking and int... what are the accounting entries for interlocking and integrated systems of cost accounting?

Labour cost, labour cost related case study with solution labour cost related case study with solution

Implementation of re-apportionment of overheads, Implementation of Re-Appor... Implementation of Re-Apportionment of Overheads The re-apportionment of service department costs may be implemented in a number of methods. The Two extremes are as a) Wh