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Combined overhead variance = fixed overhead variance + variable overhead variance
Fixed Overhead :which remains fixed and donot change upto certain level of production
Variable Overhead: which keep changing with the change in production units.
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What is the fixed manufacturing overhead budget variance equal to?
Fixed manufacturing overhead budget variance is?
What is the difference between variable overheads cost variance andfixed overheads cost variance?
Variable overhead cost variance is that variance which is in variable overheads costs between the standard cost and the actual variable cost WHILE fixed overheads cost variance is variance between standard fixed overhead cost and actual fixed overhead cost.
What if budgeted manufacturing overhead is not equal to applied manufacturing overhead?
There is a variance.
If actual overhead for the year is 33451 and applied overhead is 32000 is the overhead variance over applied or under applied assuming the amount is immaterial how would you dispose of the variance?
Difference between actual overhead and applied overhead is as follows: Difference = 33451 - 32000 = 1450 Difference of variance will be charged to income statement.
If the controllable overhead variance is favorable the overhead volume variance?
volume variance relates to Fixed cost absorption, where as controllable variances arise due difference in actual variable spending per activity measure.
What is the fixed manufacturing overhead budget variance equal to?
Fixed manufacturing overhead budget variance is?
Fixed-overhead budget variance?
Fixed overhead budgeted variance is the difference between estimated budgeted cost and actual fixed overhead cost of production.
What is the difference between variable overheads cost variance andfixed overheads cost variance?
Variable overhead cost variance is that variance which is in variable overheads costs between the standard cost and the actual variable cost WHILE fixed overheads cost variance is variance between standard fixed overhead cost and actual fixed overhead cost.
What if budgeted manufacturing overhead is not equal to applied manufacturing overhead?
There is a variance.
If actual overhead for the year is 33451 and applied overhead is 32000 is the overhead variance over applied or under applied assuming the amount is immaterial how would you dispose of the variance?
Difference between actual overhead and applied overhead is as follows: Difference = 33451 - 32000 = 1450 Difference of variance will be charged to income statement.
A favorable fixed overhead volume variance occurs if?
Favourable fixed overhead variance occurs when actual fixed cost is less than the budgeted fixed overhead expenses.
Is overhead spending variance affected by excessive usage or waste of overhead materials?
True
If the controllable overhead variance is favorable the overhead volume variance?
volume variance relates to Fixed cost absorption, where as controllable variances arise due difference in actual variable spending per activity measure.
What is One potential cause of Total Manufacturing Overhead Variance?
If the estimated materials, labor or overhead costs allocated for a manufacturing order is different from the actual cost of the MO then the potential result is a Manufacturing Overhead Variance.
Is the materials price variance the least significant from a standpoint of cost control?
NO - Fixed Overhead Volume Variance
What is a difference between a pooled variance and a combined variance?
Pooled variance is a method for estimating variance given several different samples taken in different circumstances where the mean may vary between samples but the true variance (equivalently, precision) is assumed to remain the same. A combined variance is a method for estimating variance from several samples, given the size, mean and standard deviation of each. Mathematically, a combined variance is equal to the calculated variance of the set of the data from all samples. See links.
What is the meaning of fixed overhead total variances in an absorption costing system?
Fixed overhead variance means actual fixed overhead cost was more than it was actually budgeted before start of operations.
