answersLogoWhite

0

Idle time variance is a difference between budgeted hour for work and actual worked hours multiplied by the standard wage rate.

User Avatar

Wiki User

14y ago

What else can I help you with?

Related Questions

What is idle time variance?

Idle time variance refers to the difference between the actual idle time experienced by workers or machines and the expected or standard idle time established in a production plan. It is a measure used in cost accounting to assess the efficiency of resource utilization. A significant idle time variance may indicate issues such as equipment breakdowns, poor scheduling, or workforce inefficiencies, which can lead to increased operational costs. Analyzing idle time variance helps organizations identify areas for improvement to enhance productivity.


What is the definition of the idle time variance?

machine breakdown, non ability material, illness


Is idle capacity variance due to an increase or decrease in the volume of production?

"http://wiki.answers.com/Q/Is_idle_capacity_variance_due_to_an_increase_or_decrease_in_the_volume_of_production" "http://wiki.answers.com/Q/Is_idle_capacity_variance_due_to_an_increase_or_decrease_in_the_volume_of_production"


When was Time Variance Authority created?

Time Variance Authority was created in 1986.


Variance in the rhythm of your heart?

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.


When a coin is tossed four time then mean and variance of the number of the head?

Mean = 2. Variance = 1.


What difference between a favorable variance and an unfavorable variance?

Favourable variance is that variance which is good for business while unfavourable variance is bad for business


What variance in a comprehensive performance report using the flexible budget concept is most appropriate for measuring efficiency of operations?

The most appropriate variance in a comprehensive performance report using the flexible budget concept for measuring operational efficiency is the "Efficiency Variance," often referred to as the "Usage Variance" or "Input Variance." This variance assesses the difference between the actual input used and the expected input based on the flexible budget for the actual level of activity. It highlights how well resources are utilized relative to what was budgeted, thereby providing insights into the effectiveness and efficiency of operations. Analyzing this variance helps identify areas for improvement in resource management and operational processes.


Avoidable and unavoidable idle time?

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.


What is load Variance?

Load variance refers to the difference between the actual load (or workload) incurred and the expected or standard load that was budgeted or planned for a specific period. It is a key performance indicator used in cost accounting to assess efficiency and resource utilization within an organization. A positive load variance indicates that more resources were used than planned, while a negative load variance suggests that less was used. Analyzing load variance helps organizations identify areas for improvement and manage operational costs effectively.


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.


What are the variances in a 4 variance analysis?

efficiency variance, spending variance, production volume variance, variable and fixed components