machine breakdown, non ability material, illness
Mean = 2. Variance = 1.
Favourable variance is that variance which is good for business while unfavourable variance is bad for business
Divide the total number of incidents by the total time. The result, representing the average number of incidents per unit of time, is the mean as well as the variance of the Poisson distribution.
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
Idle time variance is a difference between budgeted hour for work and actual worked hours multiplied by the standard wage rate.
machine breakdown, non ability material, illness
Time Variance Authority was created in 1986.
It is the variance in time between each heartbeat. ECG, and blood pressure tests are often used to measure the variance in the rhythm of the heart.
Mean = 2. Variance = 1.
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First we need to calculate within and between family variance components for half sib families. Additive variance is equal to 4 time the additive variance and Dominance variance equal to within family variance - (3/4) additive variance.
Favourable variance is that variance which is good for business while unfavourable variance is bad for business
These terms are normally used in Cost Accounting. Idle time means the time for which labor is paid but no production is made.Avoidable idle time means the idle time which could be avoided by the management. For example due to shortage of raw material, due to insufficient job schedules.Unavoidable idle time means the idle time which could not be avoided by the management. For example due to sudden breakdown of machine, due to strike by suppliers causing shortage of raw material.Treatment:The cost of avoidable idle time becomes the part of indirect cost and the cost of avoidable idle time becomes the part of direct cost.
Negative price variance is when the cost is less than budgeted. Volume variance is a variance in the volume produce.
efficiency variance, spending variance, production volume variance, variable and fixed components
Divide the total number of incidents by the total time. The result, representing the average number of incidents per unit of time, is the mean as well as the variance of the Poisson distribution.