Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 26 When it comes to variances, actual costs that vary from standard costs always indicate efficiencies. ideal standards will generally result in favourable variances

image text in transcribed
Question 26 When it comes to variances, actual costs that vary from standard costs always indicate efficiencies. ideal standards will generally result in favourable variances for the company. a variance is the difference between total actual costs and total standard costs. if actual costs are less than standard costs, the variance is unfavourable. LINK TO TEXT

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Whole School Audit Development Planning For Primary And Special Schools

Authors: Brian Drakeford

1st Edition

1853465011, 978-1853465017

Students also viewed these Accounting questions