Developing and insight into labour and material variance, Cost Accounting

Assignment Help:

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.


Related Discussions:- Developing and insight into labour and material variance

Calculate the rate of learning of initial production phase, Calculate the r...

Calculate the rate of learning at which the initial production phase profit target would be achieved, assuming no other cost savings can be made.   Assuming no other cost savi

Calculate the monetary of the inventory, Learning Objective: After completi...

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

Equivalent value of any non-cash assets received, The principle that (1) re...

The principle that (1) requires revenue to be recognized at the time it is earned, (2) allows the inflow of assets associated with revenue to be in a form other than cash and (3) m

Determine the net present value of proposed project, A foreign company plan...

A foreign company plans to clear several dozen acres of ecologically valuable mangrove swamp in Vietnam for the creation of a shrimp aquaculture facility.  This decision will creat

Cost variance and schedule variance, (i) In terms of cashflow, which month ...

(i) In terms of cashflow, which month will be the most costly for your project? (ii) If the 3rd and 4th months are more expensive by 25% each because the outsourced labour took

Calculate the net present value and efficiency , A foreign company plans to...

A foreign company plans to clear several dozen acres of ecologically valuable mangrove swamp in Vietnam for the creation of a shrimp aquaculture facility. This decision will create

Compute the days'' sale, Year Ending April 2009, 2009 April 30, 2008 Net Sa...

Year Ending April 2009, 2009 April 30, 2008 Net Sales $10,148,082 $10,070,778 Accs Receivable 1,171,797 1,161,481 Assume that the accounts receivable (in thousands) were $996,852 a

Absorption vs. variable costing, Absorption vs. Variable Costing Varilux ma...

Absorption vs. Variable Costing Varilux manufactures a single product and sells it for $10 per unit. At the beginning of the year there were 1,000 units in inventory. Upon further

Calculate the predetermined overhead rate, Bubba's Crawfish Processing Comp...

Bubba's Crawfish Processing Company uses a traditional overhead allocation based on direct labor hours. For the current year, overhead is estimated at $1,150,000, and direct labor

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd