Question: What can be the causes in variance for and linking both adverse and favorable: Direct material adverse variance Direct material favorable price variance Direct labor

What can be the causes in variance for and linking both adverse and favorable:

Direct material adverse variance

Direct material favorable price variance

Direct labor efficiency favorable variance

Direct labor rate adverse variance

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

Mike Cichanowski founded Wenonah Canoe and later purchased Current Designs, a company that designs and manufactures kayaks. The kayak-manufacturing facility is located just a few minutes from the...

Q:

The Hampshire Company manufactures umbrellas that sell for $12.50 each. In 2014, the company made and sold 60,000 umbrellas. The company had fixed manufacturing costs of $216,000. It also had fixed...

Q:

In late November, the sales department of Sanchez Manufacturing accepted a rush order for 8,000 units of one of its products. The sales department did not consult with any of the operating...

Q:

Labor variance analysis is used primarily as a performance evaluation measure for responsible managers in a segment of a business. Labor variance occurs when the cost of labor or the amount of labor...

Q:

Miller Toy Company manufactures a plastic swimming pool at its Westwood Plant. The plant has been experiencing problems as shown by its June contribution format income statement below: Flexible...

Q:

Question 5 (a) Ali Plc make a product for which the standard costs are: Sales Price 31 Direct labour (2 hours) 11 Direct materials (1 Kg) 10 Fixed Overhead Standard Profit 7 The budgeted output for...

Q:

Can you please explain the feedback from my professor. I have attached the submitted homework below. Fur Baby Day Care and Spa MILESTONE 3 - Variance Analysis INSTRUCTIONS: Prepare the variances and...

Q:

Direct Labor and Direct Materials Variances, Journal Entries Jameson Company produces paper towels. The company has established the following direct materials and direct labor standards for one case...

Q:

Pizzafast operates a chain of fast-food restaurants. The company uses a standard costing system to monitor the variable costs incurred in its outlets. The standard cost of one of its most popular...

Q:

Standard Standard Price Quantity (Rate) 9 sq ft. $ 0.92 per sq. ft. 0.25 hr. $10.40 per hr. 0.25 hr. $ 1.60 per hr. Standard Unit Cost $ 8.28 2.60 Direct materials (plastic) Direct labor Variable...

Q:

Required information [The following information applies to the questions displayed below.] Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based...

Q:

At 1 October 2018 Bradley Ltd held inventory with a cost of $800 000 and a fair value of $1 000 000. In order to hedge against a fall in the fair value of its inventory below $1 000 000 Bradley...

Q:

A certain communication system transmits text messages by representing each character with an - bit binary codeword. Suppose it is necessary for this communication system to operate in such a way...

Q:

Family support ( alimony and child support ) , pursuant to a divorce agreement executed before January 1 , 2 0 1 9 , of $ 1 8 , 0 0 0 ( after the child reaches the age of 1 8 , the support drops to $...

Q:

Perform a swot analysis for Ollies if you were able to invest in Ollies would you why or why not.

Q:

John Snow purchased a used vehicle for $10,000 on July 1, 2018. On January 2, 2019, he converted the automobile to business use. At the time of the conversion the automobile had a fair market value...

Q:

Ali Salem is the manager of a small chocolate company located in Abu Dhabi, and it is a family business. His father established it as a small chocolate shop in 1983. The chocolate shop has...

Q:

The Hub needs to hire delivery drivers to cover a 7 day work week. Drivers work 5 consecutive days with 2 days off. The demand for Drivers by day of the week and the wages per shift are: Days of Week...

Q:

The hydroelectric plant has a catchment area of 120 square km. The available runoff is 50% with an annual rainfall of 100 cm. Ahead of 250 m is available on an average. The efficiency of the power...

Q:

Determine if the overhead allocated to the product relates to a single plantwide overhead rate method, multiple production department factory overhead rate method, or activity-based costing...

Q:

=+a) What is the null hypothesis?

Q:

=+b) Is the alternative one- or two-sided?

Q:

2. If a person had stage fright or fear of public speaking to the degree that it interfered with their ability to function, these would be examples of which mental health disorder? a. Specific phobia...