Standard Costing and Variance Analysis Case Study
Shamsa Rafique Standard Costing and Variance Analysis Case Study: Case A: Effect of assumed standard levels Case B: Factory overhead variance analysis Case A: Effect of Assumed Standard Levels: Harden Company has…
Standard Costing and Variance Analysis
Standard Costing and Variance Analysis: After studying this chapter you should be able to: Explain how direct materials standard and direct labor standards are set. Compute the direct materials price…
Standard Costing and Variance Analysis Problems & Solution
Standard Costing and Variance Analysis Problems & Solution: Problem 1: Materials Variance Analysis: The Schlosser Lawn Furniture Company uses 12 meters of aluminum pipe at $0.80 per meter as standard…
Standard Costing System Discussion Questions and Answers
Standard Costing System Discussion Questions and Answers: Questions: (a) Define standard costs. (b) Name some advantages of standard cost system. See answer A team of management consultants and company executives…
Standard Costs-Management by Exception
Standard Costs-Management by Exception: Learning Objective of the Article: Define and explain the terms "standard cost" and "management by exception". Definition and Explanation of Standard Cost and Management by Exception:…
Factory Overhead Spending Variance
Spending Variance in Factory Overhead Learning Objective of the article: Define and explain factory overhead spending variance. How is FOH spending variance calculated? Definition: Factory Overhead spending variance is the difference…
Setting Standard Costs – Ideal and Practical Standards
Setting Standard Costs - Ideal and Practical Standards: Learning Objective of the Article: Who provide the inputs in setting standard costs? Define and explain ideal and practical standards. What is…
Overall or Net Factory Overhead Variance
Sana Ahmed Overall or Net Factory Overhead Variance: Definition: Overall or net factory overhead variance is the difference between actually incurred factory overhead and expenses charged into process using the standard factory…
Direct Materials Price and Quantity Standards
Abida Rehman Direct Materials Price and Quantity Standards: Learning Objective of the articles: Define and explain direct materials price standards and direct materials quantity standards. Explain how direct materials price and quantity…
Direct Materials Quantity Variance
Direct Materials Quantity Variance: Learning Objective of the articles: Define and explain "direct materials quantity variance" and its significance. How is it calculated? How direct materials quantity variance is interpreted?…
Direct Materials Price Variance
Direct Materials Price Variance: Learning Objective of the articles: Define and explain "direct materials price variance" and its significance. How is it calculated? How direct materials price variance is interpreted?…
Direct Labor Standards
Direct Labor Standards: Learning Objective of the articles: Define and explain "direct labor standards" . How direct labor rate and direct labor efficiency standards are set? Direct labor price and…
Direct Labor Rate | Price Variance rate
Direct Labor Rate | Price Variance: Learning Objective of the articles: Define and explain "direct labor rate | price variance /labour rate variance" . How direct labor rate or price…
Direct Labor Efficiency Variance
Direct Labor Efficiency Variance Learning Objective of the article: Define and explain "direct labor efficiency | usage variance" . How direct labor efficiency (labour analysis) or usage variance is calculated?…
Contribution Margin and Basics of Cost Volume Profit (CVP) Analysis
Contribution Margin and Basics of Cost Volume Profit (CVP) Analysis: Learning Objectives: Define and explain contribution margin. Prepare a contribution margin format income statement. What are the advantages of calculating…
Advantages and Disadvantages of Standard Costing and Variance Analysis
Sidra Farid Advantages and Disadvantages of Standard Costing and Variance Analysis Learning Objective of the article: What are the advantages / benefits and disadvantages / problems / limitations of standard costing system…
Factory Overhead Idle Capacity Variance
Factory Overhead Idle Capacity Variance: Learning Objective of the article: Define and explain factory overhead idle capacity variance. How is FOH idle capacity variance calculated? What are the reasons of…