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First-Level Variance
Actual Amounts - Static Budget Amounts
Planning Variance
Flexible Budget Amounts - Static Budget Amounts
Flexible Budget Variance
Actual Amounts - Flexible Budget Amounts
Fixed Cost Variance
Actual Total Fixed Costs - Flex Budget Total Fixed Costs
Selling Price Flex Variance
Actual Total Sales Revenue - Flex Budget Total Sales Revenue
Variable Cost Flex Variance
Actual Total Variable Cost - Flex Budget Total Variable Costs D
Direct Materials Flex Variance
Actual Direct Materials Costs - Flex Budget Direct Materials Cost
Direct Labour Flex Variance
Actual Direct Labour Cost - Flex Budget Direct Labour Cost
Flex Budget DM Quantity Variance
(Act. input per unit - standard input per unit) x Actual unit of output x Standard price per input
Flex budget DM Price Variance
(Actual price per input - standard price per input) Actual units per input * Actual units of output
Flex Budget DL quantity/efficiency Variance
(Actual inputs per unit - standard inputs per unit) * Actual units of output * Standard price per input
Flex Budget DL Price/Rate Variance
(Actual rate per input - standard rate per input)* actual inputs per unit * Actual units of output
Sales Mix Variance
(Actual sales mix % - planned sales mix %) x planned CM per unit x total sales units for ALL products
Sales Quantity Variance
(Actual ttl sales of ALL units - planned ttl sales of ALL units) x planned CM per unit * planned sales mix %
Market Share Variance
(Act. market size in units - planned market size in units) x planned market share x planned weighted average CM