Which type of variance causes operating income to be greater than the budgeted operating income? Reverse variance None of the items in this list of answers Unfavorable variance Neutral variance
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Q: G. H. I. J. Budget Perf
A: The term with definition as,
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A: The variance is calculated as difference between the actual results and standard output.
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A: Flexible-Budget Variance = Actual results - Flexible results
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Q: Which of the following would result to a favorable volume variance? Production is equal to sales…
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Q: Required a. & b. Determine the flexible budget variances and also Indicate whether each variance is…
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Q: Which of the following is true? Multiple Choice If a company has an unfavorable spending…
A: The variance is the difference between the actual data and standard output of the production.
Q: negative number using a minus sign and an unfavorable variance as a positive number. Rate variance…
A:
Q: a. Break down the material cost variance into different related variances: price variance, usage…
A: Variance analysis: It is the technique in budgeting that allows for analysis of the variances…
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: Required: Use the variance formulas to compute the following variances. (Indicate the effect of each…
A: Variable-overhead spending variance $54,000 U Variable-overhead efficiency variance $42,000 U…
Q: Which of the following statements about variances is false? If actual direct material price is…
A: Variance analysis is comparing the actual and standard figures and finding the differences or…
Which type of variance causes operating income to be greater than the budgeted operating income?
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Reverse variance |
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None of the items in this list of answers |
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Unfavorable variance |
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Neutral variance |
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- This variance is the difference involving spending more or using more than the standard amount. A. favorable variance B. unfavorable variance C. no variance D. varianceWhat are some possible reasons for a material price variance? A. substandard material B. labor rate increases C. labor rate decreases D. labor efficiencyWhen is the material price variance unfavorable? A. when the actual quantity used is greater than the standard quantity B. when the actual quantity used is less than the standard quantity C. when the actual price paid is greater than the standard price D. when the actual price is less than the standard price
- When using a standard cost system what term is used to denote that the actual cost is less than the standard cost? Group of answer choices favorable cost variance valid variance unfavorable cost variance none of the aboveComment on the statement “A favourable variance is always better than an adverse variance” by considering one behavioural issue involved.Revise the data in your worksheet to reflect the results for the subsequent period as shown below: A 1 Chapter 9: Applying Excel 2 3 4 Data Revenue 5 Cost of ingredients 6 Wages and salaries 7 Utilities 8 Rent 9 10 11 Actual results: 12 Revenue 13 Cost of ingredients 14 Wages and salaries 15 Utilities 16 Rent 17 18 19 20 Actual activity Miscellaneous Miscellaneous Planning budget activity $ $ $ $ $ GA $ $ GA B 10,400 800 2,200 600 30,295 11,110 10,310 1,210 2,200 2,060 C + + 1,700 meals served 1,800 meals served $ $ $ $ D 16.50 q 6.25 q 0.20 q 0.80 q E
- When using a standard cost system what term refers to the differences between actual and standard costs? Group of answer choices actual variances valid variances cost variances none of the aboveConsidering the variance analysis, which of the following statements is true? a. When there is favourable variance the actual profit is higher than the budgeted profit (lower costs than budgeted or higher income than budgeted.. b. When there is favourable variance the actual profit is lower than the budgeted profit (higher costs than budgeted or higher income than budgeted. c. None of the answers provided are true d. When there is adverse variance the actual profit is lower budgeted profit (lower costs than budgeted or lower income than budgeted. e. When there is adverse variance the actual profit is higher budgeted profit (higher costs than budgeted or lower income than budgeted.Considering the variance analysis, which of the following statements is true? O a. When there is adverse variance the actual profit is lower budgeted profit (lower costs than budgeted or lower income than budgeted. O b. When there is adverse variance the actual profit is higher budgeted profit (higher costs than budgeted or lower income than budgeted. O c. When there is favourable variance the actual profit is higher than the budgeted profit (lower costs than budgeted or higher income than budgeted.. O d. When there is favourable variance the actual profit is lower than the budgeted profit (higher costs than budgeted or higher income than budgeted. O e. None of the answers provided are true
- Which of the following items would be useful to management in deciding whether to investigate the cause of a reported standard cost variance? O Cost-volume-profit analysis. O Simultaneous equations. O Linear regression analysis. O Iso-profit lines. Indifference probability.1. What is the activity variance for the revenue? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect) 2. What is the spending variance for the cost of ingredients? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effecVariance analysis the process of computing the difference between Select one: a. Standard cost and variable cost b. Fixed cost and actual cost c. None of the above O d. Standard cost and actual cost