When should a standard cost variance be investigated

Assignment Help Applied Statistics

Reference no: EM13949202

1. The budget variance for variable production costs is broken down into quantity and price variances. Explain why the quantity variance is more useful for control purposes than the price variance.

2. When should a standard cost variance be investigated?

3. What are control limits, and how are they set?

4. Explain why the materials price variance is often computed at the point of purchase rather than at the point of issuance.

5. The materials usage variance is always the responsibility of the production supervisor. Do you agree or disagree? Why?

6. The labor rate variance is never controllable. Do you agree or disagree? Why?

7. Suggest some possible causes of an unfavorable labor efficiency variance.

8. Explain why the variable overhead spending vari- ance is not a pure price variance.

Reference no: EM13949202

Questions Cloud

Westmont corporation developed a comprehensive budgeting : Westmont Corporation developed a comprehensive budgeting system for planning and control purposes. While departmental supervisors have been happy with the system

How does standard costing improve the control function : How does standard costing improve the control function? Discuss the differences among actual costing, normal costing, and standard costing.

Write an analysis of a key character in a literary work : Write an analysis of a key character in a literary work. Describe two to three key actions of the character, or how the character responds to events

Issues in higher education is attached below : Review the case study that you selected (Casestudy 2: Issues in Higher Education is attached below) as well as the required module Learning Resources. Be sure to review the optional resources as you may find them equally helpful for this Assignmen..

When should a standard cost variance be investigated : When should a standard cost variance be investigated? Explain why the materials price variance is often computed at the point of purchase rather than at the point of issuance.

Relationship between rules and skills in sport : Explain the relationship between rules and skills in sport. Why is this relationship relevant to competition? (200 words minimum)

Give a managerial interpretation for coefficients 3 and .9 : Since 13.2 is greater than. 9 can you conclude the PE ratio has a stronger relationship to dividends than future growth? If not, what would you need to know to conclude which variable has a stronger relationship to the P E ratio? Briefly explain.

Respond to at least two of your colleagues posts : Respond to at least two of your colleagues' posts (Note: 2 of my colleague's responses are copied below, I need one response for each person) that hold a different position from your own (Note: My post is attached below in a document for reference..

Write an essay in which you compare art spiegelmans : Write an essay in which you compare Art Spiegelman's Maus to a more traditionally formatted story assigned for this class or a comic book you are familiar with

User Account

All Pages