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What does activity-level variances plus flexible-budget variances equal?
total master-budget variances
Should only unfavorable variances be investigated?
No, both unfavorable and favorable variances should be investigated. While unfavorable variances indicate areas where performance is lacking and may require corrective action, favorable variances can highlight opportunities for efficiency and best practices that can be leveraged further. Analyzing both types of variances provides a comprehensive understanding of performance and can inform better decision-making.
Why are variances generally segregated in terms of a price variance and an efficiency variance?
Efficiency Varian materials and direct labor, the variances were recorded in specific general ledger accounts.
What does the F statistics tell you?
The difference between two variances
What are budget variances?
Budget variances are differences in expenditures from your original budgeted plan. This may happen if there is an expense during the month that one may not have planned for such as an automotive repair or doctor's bill.
What does activity-level variances plus flexible-budget variances equal?
total master-budget variances
The variances that should be investigated by management include?
should all variances be investigated
When comparing two variances or standard deviations is an f-test is used?
An F-test can be used for variances.
Should only unfavorable variances be investigated?
No, both unfavorable and favorable variances should be investigated. While unfavorable variances indicate areas where performance is lacking and may require corrective action, favorable variances can highlight opportunities for efficiency and best practices that can be leveraged further. Analyzing both types of variances provides a comprehensive understanding of performance and can inform better decision-making.
Explain the meaning and relevance of interdependence of variances when reporting to managers?
The cause of one (adverse) variance may be wholly or partly explained by the cause of another (favourable) variance.Material price or material usage and labour efficiencyLabour rate and material usageSales price and sales volume
Why are separate price and quantity variances computed?
Price and quantity variances are computed respectively because different managers are usually responsible for buying and for using inputs.
Which is the correct set of assumptions needed for comparing 3 or more means?
Equal variances, independent observations and normality
Why are variances generally segregated in terms of a price variance and an efficiency variance?
Efficiency Varian materials and direct labor, the variances were recorded in specific general ledger accounts.
The formation of waves is a result of what?
Momentum transfer or pressure variances.
What does the F statistics tell you?
The difference between two variances
What are budget variances?
Budget variances are differences in expenditures from your original budgeted plan. This may happen if there is an expense during the month that one may not have planned for such as an automotive repair or doctor's bill.
What is a sentence for adverse?
I am adverse to this question!
