Which of the following statements is false?   a. The price factor refers to the change in selling or cost prices assuming there has been no change in units sold.   b. The net gross profit variance can be computed by adding the sales price variance and the cost price variance.

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: Sales Price Variance Sales volume variance Sales variance

A: * As per bartleby guideline, if multiple sub parts are there in question then answer first three…

Q: In gross profit analysis, if the cost variance is zero, such variance indicates that a.…

A: Gross profit analysis is used to find the reasons for difference between the Gross profit margin for…

Q: Considering the variance analysis, which of the following statements is true? O a. When there is…

A:

Q: Which of the following variances can be derived when the difference of the last year's selling price…

A: Answer - (B) Sales Volume Variance can be derived when the difference of the last year's selling…

Q: A company using direct costing in its performance evaluation would normally include the following…

A: Direct costing refers to the concept of evaluating the cost or expenses by only considering the…

Q: The material price variance is computed by multiplying the difference between the actual price and…

A: GIVEN   Material Price Variance is the difference between the actual cost of Material purchased and…

Q: Which of the following is NOT a use of CVP (Cost-Volume-Profit) analysis? a.what is the impact on…

A: SOLUTION- CVP ANALYSIS IS USED TO DETERMINE HOW CHANGES IN COSTS AND VOLUME EFFECTS A COMPANY'S…

Q: Which of the following statements is false? * The quantity factor refers to the change in the number…

A: The difference between the actual cost or price and the budgeted (standard) cost or price is…

Q: In regard to the Sales-Volume Variance, which of the following statements is false. A) The…

A: Flexible budget variance is the difference between an actual result and a flexible-budget amount.…

Q: “The production-volume variance should always be written off to Cost of Goods Sold.” Do you agree?…

A: Production-Volume Variance:It reports that amount which is result of the multiplication of…

Q: TRUE OR FALSE Production volume variance is adjusted to the cost of goods sold to get the cost of…

A: Production volume variance is the difference between actual and budgeted overhead. Under variable…

Q: How can the concept of a composite unit be used to explain why an unfavorable total sales-mix…

A: Sales mix variance: The difference between a budgeted and actual sales mix. Sales mix is a…

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: Which of the following is a possible cause of an unfavorable material price variance? A. purchasing…

A: Material price variance exists when the actual purchase price is different from the standard…

Q: 1 F or 11,111 U Total gross profit variance = Price varianc

A: Price variance refers to the actual unit cost of an item bought deducted from its standard cost and…

Q: If there were no variances, the company's absorption-costing net income would be

A: Ans. P 325,000 25000 units @ P 30 = P750000 Less. Cost of Sale   = P 425000 Net income = P 325,000…

Q: 1. What is the activity variance for the revenue? (Indicate the effect of each variance by selecting…

A: Variance analysis is one of the important technique of management accounting analysis, under which…

Q: Gross Profit Variance

A: The difference between selling price and cost of goods sold per unit gives the gross profit per…

Q: For each of the following independent cases, fill in the missing amounts in the table: (Indicate the…

A: Direct labor rate variance refers to the difference between actual and standard cost of direct labor…

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

A: Cost accounting refers to the procedure of assigning the costs to the cost objects which are usually…

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: Identify the cause of an unfavorable variance in profit. a.Actual labor cost is lower than budget…

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

Q: Which of the following statements is false? * The sum of the sales volume variance and cost volume…

A: Sales volume variance Analysis Sales volume variance analysis which can be determine to know the…

Q: Considering the variance analysis, which of the following statements is true?

A: Variance analysis is the analysis which is the analysis only possible when the company has a…

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: 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: Instructions: Designate whether each of the following statements is true or false by circling the T…

A: 1. If actual costs are less than standard costs, the variance is favourable. Solution: True…

Q: PART II — TRUE/FALSE    Instructions: Designate whether each of the following statements is true or…

A: As posted multiple independent questions we are answering only first question kindly repost the…

Q: What is the total gross profit variance? * Bulldogs Inc. had determined the following variances:…

A: The gross profit the income by deducting the cost of sales from the amount of total sales. The…

Q: Why are product cost variances (DM, DL, MOH) broken down and separated into price & quantity…

A: Direct Material Variance Materials Price Variance- A variance which shows the difference between…

Q: TRUE OR FALSE When actual production volume is less than expected volume, the production volume…

A: Fixed factory overhead volume variance = (Budgeted hours  -Standard hours required for actual…

Q: A D 1 Chapter 09: Applying Excel 2 3 Data Exhibit 9-8: Standard Cost Card 4 Inputs Standard Quantity…

A: Direct Material price variance = (Actual price per pound - Standard price per pound)*Actual quantity…

Q: Sales variance is the difference between sales price and ----------   Labour rate variance Sales…

A: Sales variance =Actual sales - budgeted sales = Actual quantity * actual price - budgeted quantity *…

Q: Assume the variance is material, what is the adjustment of the cost of good sold

A: Solution: Adjustment cost of goods sold vary based on variance in material or immaterial.

Q: Which of the following statements is incorrect with regards to production variances?   Select…

A: Production variance refers to form of measure which is used to compute the cost of production of…

Q: Which of the following is a possible cause of an unfavorable material quantity variance?   A) paying…

A: Variance refers to a change between the expected value and the actual result. This term is usually…

Q: Explain why the quantity purchased (PQ) is used in computing the direct-material purchase price…

A: Material Purchase Price Variance: Material price variance occurs when the price expected to purchase…

Q: Why is the identification of favorable and unfavorable variances so important to a company? How can…

A: Introduction: Every business creates Standard Costs for a range of goods and services. It uses these…

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: The Flexible-Budget Variance is the sum of   a. The static-budget variance and the sales-volume…

A: Flexible-Budget Variance = Actual results - Flexible results

Q: The variance that arises solely because the actual units sold differs from the budgeted units to be…

A: The variance that arises solely because the actual units sold differ from the budgeted units to be…

Q: A labor rate variance is due solely to the difference   Between budgeted materials price and actual…

A: Direct Labor Rate Variance: The direct labor rate variance is a measure to determine the variation…

Q: Help question 26

A: False. Price variance is the difference between the Standard price of the input and actual price of…

Q: Which of the following variances cannot occur together during the same accounting period? Select…

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

Q: Is it possible for a retail store such as Apple to use variances in analyzing its operating…

A: Variance analysis is usually done to find the difference between actual performance and budgeted…

Q: Which of the following statements is false?   Standard costs (e.g., how much should be paid for…

A: Statement 1 is true, because standard costs are considered as benchmarks for measuring performance.