Favourable variance is that variance which is good for business while unfavourable variance is bad for business
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
Equal in Variance
Pooled variance is a method for estimating variance given several different samples taken in different circumstances where the mean may vary between samples but the true variance (equivalently, precision) is assumed to remain the same. A combined variance is a method for estimating variance from several samples, given the size, mean and standard deviation of each. Mathematically, a combined variance is equal to the calculated variance of the set of the data from all samples. See links.
The variance is: 1.6709957376e+13
An inventory variance report shows the difference between previous recorded inventory quantity and correct inventory quantity which is discovered immediately after a physical count. It also reports on the value difference the quantity variances caused.
An inventory variance report shows the difference between previous recorded inventory quantity and correct inventory quantity which is discovered immediately after a physical count. It also reports on the value difference the quantity variances caused.
Count them
By taking a physical count. They will take their recorded amount and subtract the physical count to analyze inventory shrinkage.
Count Them
NOP. Physical inventory counts are always needed to verify accuracy of records.
"Yes, warehouse inventory software can easily be shipped by mail. In order to ensure that you have a correct inventory count, the software must be shipped."
The factor that determines whether or not goods should be included in a physical count of inventory is physical possession or ownership of the goods. Only goods that are owned by the company and physically present in its possession should be included in the physical count. Goods that are on consignment or held on behalf of others should not be included in the count.
The story - (most common) The count (as in an inventory)
You have to shut down for inventory and count everything.
The first thing to do in setting up a warehouse inventory is to get a physical count of all the products. This should be done two or three times a year. With the count done, one needs to have an inventory program so that figures can be accessed at any time.
The Auditor was maybe testing the warehouse inventory counts and who maybe in control on the inventory control