management accounting y2

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10 Terms

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overhead costs

cannot be traced directly to a cost object

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variable costs

vary directly and proportionately with activity

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fixed costs

independent of activity

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standard absorption costing

use predetermined fixed overhead rates often based on standard hours

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POHR equation

annual budgeted fixed overheads/annual budgeted activity

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overhead applied equation

POHR x actual activity

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when does volume variance occur

when we actually made a different amount to what we budgeted

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total variable overhead variance equation

SC - AC

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Variable overhead expenditure variance equation

AH(SR-AR)

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