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Material Usage Variance (MUV):
This is the variation between the actual quantity of material consumed and standard quantity which should have been consumed, expressed in terms of the standard price of the material.
MUV = Standard price (Standard quantity for actual production - Actual quantity used)
Reasons for usage variance may be
Assumptions of CVP This chapter has given information on how to apply CVP for the business analysis. Most of this analysis is keyed to the model of how profitability is impacte
Gustav Ltd commenced operations on 1 July 2011 and presents its first statement of comprehensive income for the year ending 30 June 2012 and first statement of financial position a
Cash is the other form of fund although in a narrow sense, this refers to a supply which can be drawn upon as per to the need. Here the term cash involves both cash and cash equiva
Constant Gross Margin Rate This method assumes that every product contributes an equal percentage of gross profit for every shilling of sales. It works back from gross margin
Overhead Absorption Absorption of overheads refers to the sharing out of overhead costs to the some cost centers such used the overheads. This is utilized when the overheads c
The following information is available for Whitlock Corporation in millions average common stockholders equity 2014-$2,532 2013-$2,591 dividends declared for common stockholders 20
Labour Variances From our basic data, we can calculate the labour variances as given as: i. Labour Rate Variance = (AH x AR) - (AH x SR)
You want to save $40,000 for a down payment on a new home. You expect to save $7,000 per year, be in the 25% tax bracket and hope to earn 4% on your investments. How long (in mon
ADVANTAGES OF STANDARD COSTING 1. It offers a yardstick for measurement of performance. 2. It helps 'Management by Exception'. 3. It allows the management to
Your company completed the site work for the South Pointe office complex. The costs are shown in Figure 11-3. The site concrete labor and landscaping were done by subcontractors. T
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