The ________ is used to compare thevariability of two or more data sets with different scales.  coefficient of variation variance median coefficient of skewness

Q: Why are unfavorable variances recorded by using debitentries and favorable variances recorded by…

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Q: for Julu that includor reveDue and spending variances and activity variances. (Indicate

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Q: The benchmark subtracted from the actual account expense is known variance

A: Benchmark represents the standard set by the company to be achieved in the future. The variance…

Q: concepts underlying variance analysis

A: Variance analysis is a part of standard costing under cost accounting.

Q: Thestandard error of the mean is equal to:a.the sample variance divided by the sample size.b.the…

A: Standard error of the mean (SEM) is a measure of the difference between the mean of the sample and…

Q: Assume the mean and standard deviation of sample returns are​ 8% and​ 10% respectively. Assuming…

A: Sample returns are 8% Standard deviation is 10% Returns are normally distributed To Find:…

Q: explain activity variances and spending variances with example

A: Variance is defined as the difference between the actual and the budgeted or expected amount.…

Q: of the following set of terms describes the same type of variance?   a)Usage variance, efficiency…

A: The variance is the difference between the actual data and standard output of the production.

Q: Explain the difference between a favorable and an unfavorable variance.

A: Variance: The term variance is used under standard costing system. Variance is actually the…

Q: What is the cost volume variance? * Sample format: 111,111 F or 111,111 U

A: Cost Volume Variance refers to the variance which arises when actual cost of goods sold  differs…

Q: In two or three paragraphs explain the purpose of variance analysis and its benefits and drawbacks.

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Q: How does Probability Proportionate to Size (PPS) sampling compare to Classic Variables sampling?

A: Probability Proportionate to Size ( PPS):  This is a form of variable sampling. It does not use…

Q: A statistical control chart is best used for determining: A. direct-material price variances. B.…

A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,…

Q: A. Compute the material price and quantity, and the labor rate and efficiency variances. Enter all…

A: Variance refers to the difference that is calculated by taking the actual cost that is incurred in…

Q: Distinguish between a favorable variance and an unfavorable variance.

A: Favorable Variance: Favorable variance is the variation in the actual and planned output which is…

Q: variances

A: Variance means change Variances arise after comparison with standard to Actual.   Types of Variances…

Q: Which method is used to see if a relationship between the cost driver and total cost exists?…

A: Cost drivers means activity units that will cause change in total cost for example, number of…

Q: Write down two possible causes for each variance.

A: Variance refers to the differs between the budgeted and actual. It may be favourable and…

Q: What is the relationship between sample size and (a) sampling risk, (b) tolerable rate of…

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Q: In general, variance analysis is said to provide information about _________ and __________…

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Q: The standard deviation of.alt=”f$ar{X},f$ “> is usually called the A.standard error of the sample…

A: B.randomized standard error

Q: sider the following two sets of data: A = [0.5, -0.6, 0.1, 10] & B = [6, 4, 4.5, 5.5]. Which data…

A: Variance is a measure of risk in finance terms. Variance measures degree of spread for a given data.

Q: Which of the following set of terms describes the same type of variance?       Price variance, rate…

A: The variance is calculated as difference between the actual results and standard output.

Q: Define and explain the relationship between simple variance analysis and flexible variance analysis.

A: Simple variances analysis is the study of  deviations of the actual result against the forecasted…

Q: Which of the following best describes the method of determining the ULRD?a. Expected population…

A: Upper Limit Rate of Deviation (ULRD): It is a statistical measure used by the audit team to adjust…

Q: Pick out the two most significant variances that you computed in (1) above. Explain tMs. Dunn…

A: The difference between the standard figures and the actual results are called variances.

Q: unfavorable variances result from

A: Unfavorable variance:-It is a result of lower sales, higher expenses, or combination when actual…

Q: B. Given the possible causes of the variances, identify the variance for each number and whether…

A: Identifying the names of variances and whether they are favourable or unfavourable is shown…

Q: The coefficient of variation is useful in determing the relative degree of variability of different…

A: In finance, the coefficient of variation is a statistical measure that is used for determining the…

Q: Define variance analysis.

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Q: A diagram showing interrelationships between two or more variables is called a

A: Histogram - Histogram is graphical display of data using bars. In histogram each bar groups numbers…

Q: a. Break down the material cost variance into different related variances: price variance, usage…

A: Variance analysis: It is the technique in budgeting that allows for analysis of the variances…

Q: What types of variances are found on cost center reports? Explain what each variance is measuring…

A: The variances found in the cost center report are determined by measuring actual performance against…

Q: In performing Variance Analysis for Direct Material costs, the variances include Price and Rate…

A: While performing Variance analysis for Direct Material Costs include Direct Material Price Variance…

Q: d the (a) variance and (b) standard deviation

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Q: Required: Use the variance formulas to compute the following variances. (Indicate the effect of each…

A: Variable-overhead spending variance  $54,000  U Variable-overhead efficiency variance  $42,000  U…

Q: Variance Analysis

A: [Note: Since you have posted a multi-part question, we will solve the first 3 parts for you. For the…

Q: Identify differences between the determination of sample size under classical variables samplingand…

A: Financial unit inspecting (MUS) is a factual examining strategy that is utilized to decide whether…