The cost price variance is
Q: Define direct labour cost variance.
A: Definition: Variance analysis: Variance analysis is the process of evaluating the differences…
Q: Mountain Mist Valley Stream Price Variance Efficiency Variance Price Variance Efficiency Variance…
A: "Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…
Q: What is the variable manufacturing overhead rate variance?
A: Variable Manufacturing Rate Variance = php300 (Favourable) Refer step 2 for explanation
Q: Determine the following: Price-Quantity variance Cost variance Cost-Quantity variance
A: A) Price quantity variance = ( Units sold in 2021-units sold in 2020)/ Rate per unit of 2020…
Q: Define sales volume variance.
A: Sales volume variance (also known as sales quantity variance) occurs when the actual quantity of…
Q: Describe the difference between a direct materials efficiency variance and a variable manufacturing…
A: Variable Cost:The cost which fluctuates on the basis of the output level produced. The variable cost…
Q: Explain the meaning of the joint price-quantity variance.
A: Joint price-quantity variance: Variances are the difference between the actual results and the…
Q: What is the interpretation of the direct-material quantity variance?
A: Direct material quantity variance is a variance analysis tool for manufacturing companies. It shows…
Q: b) Why are separate price and quantity variances computed?
A: Variances is a word used for finding out the difference between the actual and standard levels set…
Q: Explain why a favorable sales-quantity variance occurs.
A: Explain the reason for the occurrence of favorable sales quantity variance:When actual sales exceed…
Q: What is the direct labor rate variance?
A: The variation between actual results and the budget or standard is referred as variance.
Q: What is the interpretation of the direct-material price variance and the direct-material purchase…
A: Definition: Variance: Variance refers to the different levels in the actual cost incurred and…
Q: Direct Material Input Chemical Mix Variance Yield Variance Efficiency Variance Purchase Price…
A: Total direct material variance Purchased Direct Material AQ*AP - SQ*SP Variance…
Q: What is the difference between the Variable Overhead Spending Variance and Variable Overhead…
A: The variance is the difference between the actual data and standard output of the production.
Q: What is the sales price variance?
A: Sales Price Variance is the variance in total revenue due to different selling price from the…
Q: Define the term cost variance.
A: Cost variance is the difference between actual costs and budgeted or estimated costs. Many of the…
Q: What is overhead variance?
A: The variance is the difference between the actual figures with comparison to the budgeted figures.…
Q: The difference between actual Cost and standard cost is known as: Variance Profit Differential Cost
A: Standard Cost is the estimated cost expected to be incurred by the company for a particular period…
Q: Among the given options, determine labor yield variance.
A: Formula: Labor Yield Variance= (Standard Mix for actual output- Actual mix for actual…
Q: how to compute quantity/efficiency variance
A: Cost accounting is beneficial since it can demonstrate where a corporation spends money, earns…
Q: Why are separate price and quantity variances computed?
A:
Q: What is a spending variance and what does it mean?
A: A variance means difference between actual and budgeted amounts. A spending variance is difference…
Q: The direct-material quantity variance is:
A: Direct material quantity variance determines the efficiency of the production department in…
Q: Compute for the following: Sales price variance Cost price variance Quantity variance Format:…
A: Variance is calculated for comparing results either between two years or between budget and actuals.…
Q: How does the static budget affect the cost and efficiency variances?
A: Definition: Static budget: Static budget is a master budget that is prepared for only one level of…
Q: From the following particulars, calculate the following material variances and give their…
A: Solution:- a)Calculation of Material Cost variance as follows under:- It is difference between the…
Q: Explain and describe the overhead variance.
A: Variance means when the actual cost does not match with the estimated costs. To compute the…
Q: ne following:
A: The variances are given as,
Q: What is the cost price variance? * G
A: Variance: The difference between the actual cost or price and the budgeted (standard) cost or price…
Q: What is the variable overhead spending variance?
A: A variance is the deviation between an actual result and an expected result and its impact on the…
Q: What is the spending variance of -3 ?variable overhead
A: Variance overhead variance: When the actual variable overhead differs from that of standard cost the…
Q: When is the direct labor time variance favorable? A. when the actual quantity used is greater than…
A: Direct labor time is the time taken o produce a unit . when the standard time to make a unit is less…
Q: a. What is the material price usage, material quantity and total material variance D. What is the…
A: Material Quantity Variance-It is the difference between how much material used and expected to be…
Q: cost price variance
A: cost price variance is calculated as: (Actual unit cost - Standard unit cost) * Actual quantity…
Q: Thomas' direct-labor rate variance was:
A: Direct Labor rate Variance is the Variance for the difference between Actual rate and Standard Rate…
Q: What are some possible reasons for a material price variance?
A: The reason for material price variance has been shown below
Q: Define cost variance.
A: Cost: The amount paid to purchase the asset, install it, and put it into operations, is referred to…
Q: The sales price factor shows a variance of * D
A: Variance caused by selling price in total sales is known as sales price Variance. Formula: Sales…
Q: Based on the above information, the variable manufacturing overhead rate variance is?
A: Formula: Variable manfacturing overhead Rate Variance= Standard Rate- Actual Rate×Actual Hours of…
Q: is direct material variance a measure of?
A: Direct material variance is the difference between standard material costs and actual material costs…
Q: The sales price factor shows a variance of
A: Sales price variance is the variance how much the deviation has been made during the year. It means…
Q: Define direct labour variances.
A: Definition: Variance Analysis: Variance analysis is the process of evaluating the differences…
Q: Define product cost variances.
A: Product Cost variances occur when the standard cost is higher or lower than the actual costs They…
The cost price variance is
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- What is the joint cost allocated to product Tab if the company employs relative sales value method? P300,000P200,000P192,000P288,0001. Company ABC produces and sells product X. Using information given below calculate Total Revenue (TR), Average Revenue (AR) and Marginal Revenue (MR).. Solution should be Excel format Quantity Price per product (EUR) Total Revenue (EUR) Average Revenue (EUR) Marginal Revenue (EUR) 1 100 100 100 100 2 95 190 95 90 3 90 270 90 80 4 85 340 85 70 5 80 400 80 60 6 75 450 75 50 7 70 490 70 40 8 65 520 65 30 9 60 540 60 20 10 50 500 50 -40Q5b) Contribution statement for Chiyeyeye furniture manufacturing LtdProduct A(ZMW) Product B(ZMW)Sales 1000 500Variable costs 600 300Contribution 400 200Fixed costs 200 200Profit 100 -Calculatei) Break-even point for each productii) Contribution ratio for each productiii) Can you close product B and why? Explain
- Matamad Inc. Provides you with the following data on its operation for analysis:Unit selling priceP40Variable costs and expenses per unit.P30Fixed cost and expenses per annum.P48,000REQUIRED:a. Contribution margin per unitb. Contribution margin percentagec. BEP sales volume (units)d. BEP peso salese. Peso sales with desired income of P9,000f. Peso sales with desired income P13,000 after 32% income taxCalculate the selling price of a product if the cost price is R100 and the mark up on cost is 30%. Ignore VAT. A) R103 B) R113 C) R123 D) R130Sales are 250000 OMR, variable cost = 120000 OMR, Fixed cost 90000 calculate BEP sales a. 176076.9 OMR b. 175076.9 OMR c. 173076.9 OMR d. 174076.9 OMR
- The following information is given for Gator Company, who uses the FIFO method. Item Quantity Cost NetRealizableValue ReplacementCost NRVMinusNormalProfit 1 1 $17.70 $24.60 $18.00 $17.10 2 1 10.80 8.28 9.30 5.58 3 1 72.00 64.80 67.20 57.60 4 1 4.80 3.12 2.88 2.64 5 1 12.00 12.30 12.60 11.10 6 1 48.00 45.60 38.40 40.80 Required: a. Determine the lower of cost or net realizable value for each inventory item for Gator Company. Item 1 2 3 4 5 6 b. Determine the lower of cost or net realizable value for Gator Company's inventory if the lower of cost or net realizable value rule is applied to the total inventory.$_______Please answer quicklyX product; total sales quantity is 25, unit sales price is 1600 TL, unit variable expense is 1000 TL. (Total fixed expenses 120.000TL)What is the 'break-even point' of X according to uniform production? 2310143019A company has following details for this yearDetails Total sales($) Total cost($) Details Total sales($) Total cost($)Year ended 31/12/2018 35,78,998 25,89,709Year ended 31/12/2019 48,90,742 31,67,984 Calculate P/V ratio, Fixed cost, break even sales, Margin of safety 2018/2019, Variable cost 2018/2019and percent of fixed cost 2018/2019
- Sohar Company’s financial information is given in the table below. Year Sales (OMR) Fixed Costs Variable Costs 2019 405000 90000 225000 2020 450000 120000 240000 Calculate: P/V ratio, E.P. Sales required to earn a profit of OMR 40000. Margin of safety at a profit of OMR 50000 Profit when sales are OMR. 200000.4\ Management has at its disposal the following information: Price Information : P= 2400-30Q The profit-maximizing price: P=240 Dollar Find the Profit-maximizing quantity.Consider the following cost and pricing data of ABC Corp. on its Product X:Price: P120.00.per unitProfit Contribution: P90.00Proposed additional Cost: P3 per unit (for quality improvement)Current Profits: P2.4 millionSales: 100,000 units. A. Assuming that average variable costs are constant at all output levels, findABC Corp.’s total cost function before the proposed change.B. Calculate the total cost function if the quality improvement is implemented. UNANSWERED SUB-PARTSC. Calculate ABC Corp.’s break-even output before and after the change, assuming it cannot increase its price.D. Calculate the increase in sales that would be necessary with the quality improvement to increase profits to P2.7 million