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Important Points Regarding to the Variance Analysis
Variance reporting concentrates on both with favourable and unfavourable variances. Normally unfavourable variances are punished on the responsible persons whereas favourable variances are rewarded. Conversely, it is a rule of thumb but not usually the case. Keep in mind that an unfavourable variance might arise because of factors beyond the employee's or manager's control, whether in case you can't punish that person: quite, you have to explain the unfavourable variance in terms of the uncontrollable factor of alternatively adjust the standard to incorporate the changed circumstances. The similar case can be argued for favourable variances.
Last in first out or LIFO LIFO is based upon the assumption such the stock purchased last is issued first. Stock valuation should here be based upon the prices ruling on acqui
Identify and explain many classification of costs for planning, control, performance evaluation and decision making.
First in First Out or FIFO FIFO method is based upon the assumption such stock purchased first is issued first. Prices of stock purchased first are employed to determine the v
Balance Sheet Classi?cations and Relationships: Shelley and Co. has the following balance sheet elements as of December 31, 2012. Land. . . . . . . . . . . . . . . . . . . . . .
labour cost related case study with solution
2001 2002 sale 3200 units 3500 units selling prise Rs.60 Rs.65 unit produced 3400 units 3600 units direct metrial Rs 23 25
Advertising expense $17,200 Wages expense-assemblers 36,840 Depreciation expense-machines 21,480 Utilities expense-factory 21,120 Wages expense-lathe operators 23,480 Repair expens
M aterials mix variance : It can be described as that portion of direct material usage variance which is the variation between the actual quantities of ingredients used in a mi
PROFIT VARIANCES Sales variances are important as they have a direct bearing on profits earned by the organization. thus, they can be used as the basis of determining profit
Moore Corporation follows a policy of a 10% depreciation charge per year on all machinery and a 5% depreciation charge per year on buildings (the corporation uses the nearest full
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