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What is adverse variance?
A non favourable variance Eg: adverse revenue means the company earned less revenue than expected.
How do you calculate total material variance?
Total material variance is calculated by comparing the actual cost of materials used to the standard cost of materials that should have been used for the actual production level. The formula is: Total Material Variance = (Actual Quantity x Actual Price) - (Standard Quantity x Standard Price). This variance can be further broken down into material price variance and material quantity variance for more detailed analysis.
What is error variance?
Is the result of unsystematic differences among participants; that portion of the total variance in a set of data that remains unaccounted for a systematic variance is removed; variance that is unrelated to the variables under investigation in a study.
Is a positive variance always favorable?
A positive variance is not always favorable; it depends on the context. In financial terms, a positive variance in revenue indicates better-than-expected performance, which is favorable. However, a positive variance in expenses could mean costs are higher than budgeted, which is unfavorable. Thus, assessing whether a positive variance is favorable requires understanding the specific metrics and their implications.
How is total revenue calculated?
Total revenue is calculated by multiplying the price of the product sold by the quantity sold. PQ = R. Total profit is total revenue minus costs incurred. R-C = P
How do you calculate Total revenue variance?
total revenue variance = actual revenue - standard revenue Total revenue variance (AQ x AP) - (SQ x SP) where AQ is actual quantity (units of service sold), AP is actual price (actually recorded as revenue), SQ is standard quantity, and SP is standard price
What is adverse variance?
A non favourable variance Eg: adverse revenue means the company earned less revenue than expected.
The activity variance for revenue is unfavorable if the actual revenue for the period is less than the revenue in the static planning budget true or false?
true
A revenue variance is unfavorable if the actual revenue is less than what the revenue should have been for the actual level of activity for the period true or false?
TRUE
How do you calculate total revenue?
To calculate total revenue you simply multiply the quantity by the price. Total revenue includes expenses; therefore, total revenue isn't the same as profit.
What is error variance?
Is the result of unsystematic differences among participants; that portion of the total variance in a set of data that remains unaccounted for a systematic variance is removed; variance that is unrelated to the variables under investigation in a study.
How do you calculate total room revenue?
how do calculate total of rooms revenue
Is a positive variance always favorable?
A positive variance is not always favorable; it depends on the context. In financial terms, a positive variance in revenue indicates better-than-expected performance, which is favorable. However, a positive variance in expenses could mean costs are higher than budgeted, which is unfavorable. Thus, assessing whether a positive variance is favorable requires understanding the specific metrics and their implications.
How can one determine marginal revenue from total revenue?
To determine marginal revenue from total revenue, you can calculate the change in total revenue when one additional unit is sold. This can be done by finding the derivative of the total revenue function with respect to the quantity of units sold. The resulting value will give you the marginal revenue at a specific quantity level.
Total revenue and total cost curves?
total cost= total revenue, it is the same thing in different name.
How do i calculate percent profit?
The answer will depend on profits as a percentage of what! As a percentage of revenue, it would be 100*(Total Revenue - Total Costs)/Total Revenue In example (as given in discussion page) Total Revenue = 236,000 Total Costs = 173,000 Total Profit = Total Revenue - Total Costs = 63,000 So percentage profit = 100*63,000/236,000 = 26.7% (approx).
How do you you calculate total revenue percentage?
You can calculate the total revenue percentage by substituting the variable X for the monthly revenue, the variable Y for the period of time, and then multiple these to solve for the total revenue percentage.
