Overhead variances, Cost Accounting

Assignment Help:

OVERHEAD VARIANCES

Unlike labour and direct material, the manufacturing overhead is not completely variable with the level of production.   So, standard costs for factory overheads are based upon budgets rather than standards.  These variances happen due to the differences between the standard overhead cost charged and the actual overhead cost incurred to production.  There are two components to overhead variances -

i)        Fixed Overhead Variances and

ii)       Variable Overhead Variances


Related Discussions:- Overhead variances

Uniform costing, Uniform Costing It is a general system utilizing agre...

Uniform Costing It is a general system utilizing agreed concepts, standard and principles accounting practices adopted via different entities in the similar industry to ensure

Material cost, distinguish between bin card and store ledgre

distinguish between bin card and store ledgre

Application of a hand-held clinical thermometer, In an application of a han...

In an application of a hand-held clinical thermometer for the National Health Service it is required to use disposable temperature sensors and digital read out of temperature betwe

Uses of cost volume profit analysis, USES O F CVP ANALYSIS 1. .It ...

USES O F CVP ANALYSIS 1. .It allows preparation of flexible budgets. 2. It provides help in forecasting accurate profit. 3. It aids in formulating price policy. 4

Absorption costing and marginal costing, Absorption Costing and Marginal Co...

Absorption Costing and Marginal Costing Product costs are costs identified along with goods produced or purchased for resale. That costs are initially identified like part of

Factors affecting fund requirements, By the discussions we had previous, it...

By the discussions we had previous, it is not tough to come to the conclusion that numerous factors influence the fund or net working capital needs. Fund needs vary along with t

Calculate contribution to sales ratio, Q. Calculate contribution to sales r...

Q. Calculate contribution to sales ratio? Contribution per unit= sales price per unit less variable cost per unit Break-even volume = Fixed overhead/Contribution per uni

Budget, a company has the budget for manufacturing overhead based on direct...

a company has the budget for manufacturing overhead based on direct labor hours. budgeting at 10,000 direct labor hours are as follows. Variable costs= 160000 Fixed Costs

Budgeted and actual fixed costs per month , Using  the  information below, ...

Using  the  information below, list profit statements  for June and July using  (a) margin costing and (b) absorption costing. A company produces and sells 1 product only which

Estimate finished goods cost of goods sold , ln an attempt to conceal a the...

ln an attempt to conceal a thefi of funds, Kaito Kid, controller of Shinichi Products, lnc. placed a bomb in the company s record vault. The ensuing explosion left only fragments o

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