What are the two direct materials variances? What factors can affect each variance and who is generally responsible for the variance?
Answer to relevant QuestionsExplain how a manager might make a trade-off between the direct materials price and the direct materials quantity variances. Suppose you have computed a favorable fixed overhead volume variance of $1,000. How would you interpret that variance?What benefit does residual income offer in comparison to return in investment when evaluating performance?What are negotiated transfer price? Explain two possible disadvantages of allowing managers to negotiate a transger price?When would you use the PV of annuity table instead of the PV of $ 1 table?
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