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What is the difference between negative price variance and volume variance?
Negative price variance is when the cost is less than budgeted. Volume variance is a variance in the volume produce.
Is the volume variance a controllable variance from a spending point of view?
No, the volume variance is controllable but not related to spending. The volume variance calculates the dollar impact of producing more or less than the budgeted production volume. No, the volume variance is controllable but not related to spending. The volume variance calculates the dollar impact of producing more or less than the budgeted production volume.
What are the variances in a 4 variance analysis?
efficiency variance, spending variance, production volume variance, variable and fixed components
What are the causes direct material quantity variance?
what are some of the causes of material quntity variance of favourable amount
Is there any difference between sales volume variance and Sales Quantity Variance?
Yes
If the controllable overhead variance is favorable the overhead volume variance?
volume variance relates to Fixed cost absorption, where as controllable variances arise due difference in actual variable spending per activity measure.
What is the difference between a sales volume variance and a sales price variance?
Volume is a change in how many products you sell Price is a change in how much you charge for the product
Is the materials price variance the least significant from a standpoint of cost control?
NO - Fixed Overhead Volume Variance
Causes material quantity variance?
causes of labor rate variances
What causes material usage variance?
Material usage variance can be caused due to waste. Quality issues, such as defects, can result in material usage variance.
What factors causes Budget Variance?
There are 7 variances associated with a budget ( which are generally calculated for controlling purposes) 1- Material Price variance 2- Material Quantity variance 3- Labor rate variance 4- Labor efficiency variance 5- Spending variance 6- Efficiency variance 7- Capacity variance
Causes of direct material quantity variance?
Some causes of direct material quantity variance are poor quality materials, untrained workers, and lack of supervision. Production managers should look at and determine the causes.
