An unfavorable materials quantity variance occurs when the actual quantity used in production is less than the standard quantity allowed for the actual output of the period. [S2] If variable manufacturing overhead is applied based on direct labor-hours, it is impossible to have a favorable labor efficiency variance and unfavorable variable overhead efficiency variance for the same period.   Only S1 is true   Only S2 is true   Both statements are true.   Both statements are false.

Q: The Purchasing Agent in a firm would be most likely to be held responsible for which of the…

A: Variances analysis involves determining of deviations if any by comparing the actual results with…

Q: An unfavorable materials quantity variance occurs when the actual quantity used in production is…

A: The Correct answer is False

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Q: Which of the following would produce a materials price variance? A. an excess quantity of materials…

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Q: unfavorable volume variance

A: Volume variance is the difference between actual sales or production and budgeted sales or…

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Q: 15. Which of the following statements regarding direct materials quantity variance is TRUE? Select…

A: Hi student Since there are multiple questions, we will answer only first question.

Q: Indicate whether each statement is true or false. a) DM quantity variance is favorable when the…

A: "Since you have asked multiple questions, we will solve first question for you. If you want any…

Q: 1. The price variance for materials is the difference between the actual quantity of materials at…

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A: Standard Cost: It is the estimated cost of the manufacturing process or a product that is generally…

Q: Which of the following conditions might cause a material variance?

A: Direct material cost variance: direct material variance is variance analysis done by the company to…

Q: 28. If at the end of the fiscal year, the variances from standard are significant, the variances…

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Q: 11) Which of the following would produce a labor rate variance?  Group of answer choices a) Poor…

A: Introduction:- It is the difference between actual costs for direct labor and budgeted costs.…

Q: A favorable labor rate variance indicates that   Multiple Choice   actual hours exceed standard…

A: Formula for Labor rate variance : Labor rate variance = (Actual rate per hour - Standard rate per…

Q: 2 A production volume variance will exists when: Production volume differs from the sales volume.…

A: The production volume variance measures the amount of overhead applied to the number of units…

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A:

Q: 4. Prepare a detailed overhead variance report that shows the variances for individual items of…

A:

Q: verify whether variances favorable of unfavorable: budgeted cost at actual volue would be 25344…

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A: As the question has more than 3 sub-parts, the first 3 subparts are answered. If you want the answer…

Q: A cost variance of zero indicates that the manufacturing management was *

A: As part of our protocol we provide solution to one question only but you have asked multiple various…

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A: Material spending variance = material quantity variance + Material price variance

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Q: 4. What was the materials price variance for March if there were no beginning or ending inventories…

A: 4. Following are the calculation of Material Price Variance:

Variance Analysis

In layman's terms, variance analysis is an analysis of a difference between planned and actual behavior. Variance analysis is mainly used by the companies to maintain a control over a business. After analyzing differences, companies find the reasons for the variance so that the necessary steps should be taken to correct that variance. 

Standard Costing

The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.