Brookstone Company produces 9 volt batteries and AAA batteries. Brookstone Company uses a plantwide rate to apply overhead based on direct labor hours. The following data are given: Actual overhead $325,000 Estimated overhead $350,000 Estimated activity:   9 volt battery 100,000 direct labor hours AAA battery 400,000 direct labor hours Actual activity:

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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.