0
standard costing and variance analysis
Wiki User
∙ 13y ago
Add your answer:
Earn +20 pts
Compare Standard costing vs variance analysis?
Compare Standard costing vs variance analysis?"
What is variance?
In most production management systems, a "Planned" quantity and material cost is calculated based on the associated Bill of Materials (BOM) and Operatons being performed (Route) creating labor and overhead related costs. The "Actual" quantities, material costs, and labor/overhead costs are issued to a Work in Process (WIP) account and the quantities/values of the produced items are recieved from the WIP account. A variance usually occurs when there is a difference between the issued material cost plus labor and overhead and the recieved material cost of the produced item. The reasons for these variances can be differences in planned vs actual quantities, differences in system or planned cost of materials, labor, or overhead vs actual cost, or any other potential reason for an unplanned difference.
Why are variances squared?
The variances are squared so that all deviations above and below the mean become positive values. Taking the square root of the variance then gives a measure of the differences from the mean: the standard deviaton. Squaring the deviations also makes the bigger differences stand out. Look at 100 squared vs 10 squared.
Quantitative vs qualitative?
Qualitative research involves analysis of data such as words (e.g., from interviews), pictures (e.g., video), or objects (e.g., an artifact). Quantitative research involves analysis of numerical data.
New American Standard Version vs KJV?
Here it is always advisable to ead the K.j.V. Bible as the English is more easy and correct to start on.
Compare Standard costing vs variance analysis?
Compare Standard costing vs variance analysis?"
Gold Standard vs Silver Standard?
1896 Elections
What is variance?
In most production management systems, a "Planned" quantity and material cost is calculated based on the associated Bill of Materials (BOM) and Operatons being performed (Route) creating labor and overhead related costs. The "Actual" quantities, material costs, and labor/overhead costs are issued to a Work in Process (WIP) account and the quantities/values of the produced items are recieved from the WIP account. A variance usually occurs when there is a difference between the issued material cost plus labor and overhead and the recieved material cost of the produced item. The reasons for these variances can be differences in planned vs actual quantities, differences in system or planned cost of materials, labor, or overhead vs actual cost, or any other potential reason for an unplanned difference.
Comparative export analysis India Vs Brazil?
brazil is bigger than india
Why are variances squared?
The variances are squared so that all deviations above and below the mean become positive values. Taking the square root of the variance then gives a measure of the differences from the mean: the standard deviaton. Squaring the deviations also makes the bigger differences stand out. Look at 100 squared vs 10 squared.
What is Secondary standard solution in volumetric analysis with example?
Primary standard is a chemical entity available with highest purity and stability with high molecular weight. e.g. KHP, NaCl, Calcium salt used in standardisation of volumetric solution. Secondary standards are compounds used in analysis after evaluation against primary standards. e.g.- NaOH VS, Sodium thiosulphate VS
What are the classification of human behavior and their example?
The Scientific analysis of behaviour are measurable, observable and predictable.
Are Knights VS dragons duel decks tournament legal in standard format?
No. There are cards in the duel decks that are not standard tournament legal.
What matches were in the survivor series 2009?
the matches were.... team Mickie vs team Michelle (standard elimination tag) winner team Mickie team Miz vs team Morrison (standard elimination tag) winner team Miz Batista vs Rey Mysterio (normal pin fall match) winner Batista team Orton vs team Kingston (standard elimination tag) winner team Kingston John Cena vs HHH vs Shawn Micheals (triple threat for wwe championship) winner John Cena Undertaker vs Big Show vs Chris Jericho (triple threat for world heavyweight championship) winner Undertaker link: www.survivorseries.com
Quantitative vs qualitative?
Qualitative research involves analysis of data such as words (e.g., from interviews), pictures (e.g., video), or objects (e.g., an artifact). Quantitative research involves analysis of numerical data.
What are some standard features on the BMW M3 VS?
Some of the standard features on the BMW M3 VS series includes, but is not limited to, front air-conditioning, cruise control, power locks, key-less entry, power windows and rear spoiler.
What kind of math does a cook use math for?
Measurement conversions, nutritional content, serving sizes, cost vs profit analysis of recipes
