Questions from Managerial Accounting

Q: What type of variance is calculated by comparing actual costs to the

What type of variance is calculated by comparing actual costs to the flexible budget

Q: The spending variance can be separated into two components. Name and

The spending variance can be separated into two components. Name and briefly describe them

Q: What are the two direct materials variances? What factors can affect

What are the two direct materials variances? What factors can affect each variance and who is generally responsible for the variance?

Q: Explain how a manager might make a trade-off between the

Explain how a manager might make a trade-off between the direct materials price and the direct materials quantity variances.

Q: What are the two direct labor variances? What factors can affect

What are the two direct labor variances? What factors can affect each variance and who is generally responsible for the variance?

Q: Explain how a manager might make a trade-off between the

Explain how a manager might make a trade-off between the direct labor rate and the direct labor efficiency variances.

Q: Fellar Corp. has identified the following information: Activity cost

Fellar Corp. has identified the following information: Activity cost pools Materials handling = $60,000 Machine maintenance = 51,750 Cost drivers Number of materials moves = 960 Number of machine hour...

Q: What is the key difference between a normal cost system and a

What is the key difference between a normal cost system and a standard cost system?

Q: What are the two variable overhead variances? What factors can affect

What are the two variable overhead variances? What factors can affect each variance and who is generally responsible for the variance?

Q: What are standard costs? When are they set?

What are standard costs? When are they set?