Fill in the following blanks. (i) ** chart is an effective method of reporting significant variances. (ii)
Question:
Fill in the following blanks.
(i) ** chart is an effective method of reporting significant variances.
(ii) There are two methods of disposing off cost variances: first is they may be transferred to profit and loss account and the second method requires them to be considered as **.
(iii) Efficiency ratio is determined dividing ** by actual hours worked.
(iv) Capacity utilization ratio is determined dividing actual hours worked by **.
(v) Material yield ratios is based on actual yield and **.
(vi) Volume variance ratio shows the relationship between actual production and **.
(vii) Material cost variance ratio is the product of material price variance ratio and **.
(viii) Control chart is primarily based on **.
(ix) ** is prepared to reconcile actual profit and budgeted profits.
(x) Profit variance is difference between actual profit and **.
Step by Step Answer:
Management Accounting Text Problems And Cases
ISBN: 9781259026683
6th Edition
Authors: M Y Khan, P K Jain