What are the classification and computation of variances, Managerial Accounting

Assignment Help:

Classification and computation of variances

The computation and analysis of variances is the main aim of standard costing. The variance is the difference among the standard performance and the actual performance. Where variances recorded are unfavorable the concerned departmental head is help responsible. For it and he is asked to take corrective action into the matter. For adverse material price variance the purchase manager is sounded; and same for material usage variance the production manager is asked for a control over the similar.

 


Related Discussions:- What are the classification and computation of variances

Homework, IF net income totaled $18,000 for one year, beginning assets were...

IF net income totaled $18,000 for one year, beginning assets were $100.000 and ending assets were $140,000, then Return on Assets for the year as a percentage will be?

Cost comprise impact, Cost comprise impact Some of the policy choices w...

Cost comprise impact Some of the policy choices which tend to have the maximum impact on cost comprise: Product performance, configuration, and characteristics Mix and

Standard costing system, Standard costing system However, it has been a...

Standard costing system However, it has been argued that traditional variance analysis is unhelpful and potentially misleading in the modern organization, and can make managers

Disadvantages of simulation, Disadvantages of Simulation 1) Although al...

Disadvantages of Simulation 1) Although all models are simplification of reality, they may still be complex and require a substantial amount of managerial and technical time.

Positioning, Positioning An essential part of the planning process is p...

Positioning An essential part of the planning process is positioning the organization to attain its goals. Positioning is a wide concept and depends on gathering and evaluating

Homework.., Give the following cost data Costs /per unit labor … $ 4 Mate...

Give the following cost data Costs /per unit labor … $ 4 Materials …5 Fixed cost … $ 12000 Determine the break even point in units if the selling price is $ 19.00 Determine th

What are the elements of cost, Elements of cost: 1. Material: the sub...

Elements of cost: 1. Material: the substance from which the product is made is known as material it may be in a raw or a manufactured state. It can be direct as well as indir

Determine the price determination process, Determine the Price determinatio...

Determine the Price determination process 1) Estimating the demand for the product: the first step in determining the price of a new product is to estimation the anticipated

Breakeven analysis, I am part of a marketing group, and we are working on a...

I am part of a marketing group, and we are working on a project for a local cable company,they currently serve 3,200 customers and sell 50 wireless boxes a month,what I need to do

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