The difference between standard costs and actual costs is known as (a) budgetary control (b) variance (c)

Question:

The difference between standard costs and actual costs is known as

(a) budgetary control

(b) variance

(c) variance analysis

(d) variance accounting

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Cost Accounting

ISBN: 9788131732076

1st Edition

Authors: V. Rajasekaran, R. Lalitha

See More Books

Question Posted: Jun 16, 2024 04:08 AM

See More Questions

Evaluate the potential gains and losses for forwards,future,call options,put options and swaps. Outline and describe the different risks that each type of derivative contract faces. Describe...
I need your help with this: Can you please quote from the attached chapters / resource if possible? Corporations often use different costs of capital for different operating divisions. Using an...
Goods in transit, f.o.b shipping point, to Spartan Co. from a vendor on December 31, 2019 were received on January 4, 2020. The invoice cost was $50,000 How should Spartan Co. treat theses goods on...
By knowing the value of e/m how you will calculate the mass of an electron?
How much extra is having a waterfront property worth? A student took a random sample of 170 recently sold properties in Upstate New York to examine the question. Here are her summaries and box plots...
Describe two hospitality situations in which a verbal contract is superior to a written contract, and explain why you believe it to be so.
Is there any company not on this list that you would have voted to be included? LO.1
Shankar Company uses a perpetual system to record inventory transactions. The company purchases inventory on account on February 2, 2015, for $40,000, with terms 3/10, n/30. On February 10, the...
3.19 An investment pays 5% compounded monthly. What is the net present worth of the investment if $52,000.00 is invested now and it is worth $63,500.00 in four years
Variance should be stated in (a) money terms (b) grade (c) quantity (d) none of the above.
A standard established over a long period is called as (a) ideal standards (b) basic standard (c) attainable standard (d) none of the above
What effect does having public health insurance have on the number of doctor visits a person has during a year? Using 1988 data, in the data file rwm88_small, from Germany, we will explore this...
Gulf Shore Lawn and Garden Maintenance provides two general outdoor services: lawn maintenance and garden maintenance. The company charges customers $18.0 per hour for each type of service, but lawn...
Two level sections of an east highway (G=0) are to be connected. Currently, the two sections of highway are seperated by a 4000-ft (horizontal distance), 2% grade. The westernmost section of highway...
A solution contains 2 x 10-3 moles Ca2+/L and 3 x 10-4 moles Mg2+/L. Given the formation constants for CaEDTA2- and MgEDTA2- of 1010.6 and 108.7, respecively, calculate: 1) Concentration of MgEDTA2-...
The direct material (DM) price variance is $2,650 favorable and the DM usage variance is $3,000 unfavorable. The budgeted amount of DM for each unit of product is 2 lbs. to be purchased at the...
On January 1, 2023, AMI Corporation purchased the non-cash net assets of Oriole Ltd. for $8,399,900. Following is the statement of financial position of Oriole Ltd. from the company's year- end the...
Describe the current trends affecting franchising within the United States and internationally.
For the next several days, take notes on your listening performance during at least a half-dozen situations in class, during social activities, and at work, if applicable. Referring to the traits of...
Marie Forleo, a marketing trainer and host of MarieTV, presents the eight tips for genuine networking. Do you agree or disagree with her suggestions? Discuss how this information is useful to you and...
Identify all relevant costs or revenue that are applicable to production- constrained decisions 1. Contributions margin of product 2. Interference with other production 3. Contribution margin per...
Gammaro Compary manufactures wallets from fabric. In 2 0 1 9 , Gammaro made 2 , 1 5 0 , 0 0 0 wallets using 1 , 2 5 0 , 0 0 0 yards of fabric. In 2 0 1 9 , Gammaro has capacity to make 2 , 8 0 0 , 0...

The difference between standard costs and actual costs is known as (a) budgetary control (b) variance (c)

Question:

Step by Step Answer:

Cost Accounting

Students also viewed these Business questions