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Occurrence of Overhead Variances
Overhead variances arise mainly because of the conventions of the overheads absorption process. The overhead absorption rates employed in this process are calculated from two major estimates as:
i. Estimates of expenditure levels.
ii. Estimates of the activity levels throughout the budget period.
Because the two elements are mere estimates, they hardly coincide along with reality, and hence will almost certainly purpose a favourable or unfavourable variance in any type of given accounting period. Overhead variances are caused via efficiency variations also. Since overheads are frequently absorbed efficiency is less or greater than planned.
Cal Farms reported a supplies expense of $2,000,000 a year. The supplies amount decreased by 200,000 during the year to an ending balance of $400,000. What was the cost of supplies
Purchase of office supplies.
material ledger card.following transactions affecting material No115-8 occurred during march 1992. march 1 balanced on hand 500 [email protected] per gallon maech 2 received 1200 gall
in what ways does specific order costing differ from process costing
The profit volume ratio of xltd. is 50% and the margin of safety is 40%.you are required to calculate the net profit if sales volume is rs.100,000?
A retail dealer in garments is currently selling 24000 shirts annually. He supplies the following details for the year ended 31st December,2007. Rs Selling Price per shirt
Contract Costing It is a form of exact order costing, which is applied to relatively large cost units that normally get a considerable length of time to complete as an example
what is labour
value of which items are required to be put in a simple format of manufacturing a/c.
Direct material yield variance (MYV) : It has been described by the ICMA, London, as 'the variation between the standard yield of the actual material input and the actual yi
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