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Where the actual cost is found to greater than the standard cost is known as?
Seffiansafe
adverse variance
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∙ 15y ago
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The standard deviation of the distribution of means is also known as the population standard deviation?
Yes.
Is it possible that in standard normal distribution standard deviation known and mean unknown?
it is possible to distribute standard deviation and mean but you dont have to understand how the mouse runs up the clock hicorky dickory dock.
When the population standard deviation is not known the sampling distribution is a?
If the samples are drawn frm a normal population, when the population standard deviation is unknown and estimated by the sample standard deviation, the sampling distribution of the sample means follow a t-distribution.
The variance which measures the deviation of the rate actually paid to labor as from the standard hourly rate is known as?
Labour rate variance .
When to use z or t-distribution?
If the sample size is large (>30) or the population standard deviation is known, we use the z-distribution.If the sample sie is small and the population standard deviation is unknown, we use the t-distribution
Where the actual cost is found to be less than standard cost is known as?
favourable variance
Comparing actual costs with standard costs is known as?
variancce analysis
Importance of standard costing?
A valuable management tool, standard costing is part of cost accounting. Rather than using actual costs for direct material, labor and manufacturing overhead, standard costs are used to easily track variances and estimate profit.Though actual costs are still paid, standard costing is often used for inventories and cost of goods sold. The difference between standard and actual costs are known as variances. These variances are what make standard costing such a valuable practice for management. Management can quickly become aware of changes in budgeted costs by tracking the variances.When standard costing is used, you will often hear the terms unfavorable or favorable variance. This refers to changes in actual costs in relation to planned or standard costs. A favorable variance takes place when actual costs dip below standard costs. Conversely, if actual costs rise above standards, the variance is unfavorable.In regards to manufacturing companies, standard costs would first be seen as individual parts or pieces of the finished product. This means that the final standard cost will be the sum of the standard costs of each of the individual pieces of the product.
What is difference between abnormal loss and abnormal gain?
if the actual loss is greater than normal loss. it is known as abnormal loss but if the actual loss is less than normal loss a gain is obtained which is called abnormal gain or effectiveness
Information about the discovery of pi by aryabhatta?
Aryabhatta did not discover pi - it was known long before him. He found a more accurate value and a method for calculating pi to greater accuracy than was previously known.
A student measured the mass of an object and found it to be 658 grams. The actual objects mass is known to be 755 grams what is the percent error of the measurement?
It is approx 12.8%.
How many stars does the actual Southern cross have?
The Southern Cross has a total of five stars. It is also known by the name Crux and it can be found deep in the southern skies.
What do you call an Irish restaurant?
Ireland has a wide range of restaurants, from standard Irish ones to ones from a wide range of international cuisines. Lots of international chains are found in Irelands, like the well known international fast food restaurants.
What was the nicknames of the apostles?
St. John is known as the evangelist. There are two St. James the lesser and the greater. St. James the lesser is known as the lust and the greater is known as the elder.
What does actual mean in math terms?
actual means recieved by the calculation of known data
What mineral is found in the northern Piedmont province is known as fools gold?
The mineral found in the northern Piedmont province that is known as fool's gold is pyrite. Pyrite is a common sulfide mineral that has a shiny, metallic appearance similar to gold, but it does not contain any actual gold content.
For what purposes is a datacard used?
Approximately the size of a standard credit card, a datacard is a removable computer component. It is used to add functions to a device or to allow for greater data storage, hence known as a memory card.
