'Volume variance' presentation slideshows

Inventory Costing and Capacity Analysis

Inventory Costing and Capacity Analysis. Chapter 9. Learning Objective 1. Identify what distinguishes variable costing from absorption costing. Inventory-Costing Methods. The difference between variable costing and absorption costing is based on the

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Chapter 8 and 18

Lecture 23. Chapter 8 and 18. Fixed Overhead Variance Spoilage, Rework and Scrap. Readings Chapter 8, 18 Cost Accounting, Managerial Emphasis, 14 th edition by Horengren Chapter 11, Managerial Accounting 12 th edition by Garrison, Noreen, Brewer

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Chapter 10

Chapter 10. The Use of Budgets for Cost Control and Performance Evaluation. Topics to be Discussed. Introduction Standard Costing Ideal Versus Practical Standards Use of Standards by Nonmanufacturing Organizations Application in Business. Introduction. Key Concept

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ACT3132 MANAGEMENT ACCOUNTING II STANDARD COSTING

ACT3132 MANAGEMENT ACCOUNTING II STANDARD COSTING. Dr Nor Aziah Abu Kasim SEMESTER II 2005/6 Group 2. Definition: What are Standard Costs?. Standard costs are target costs for each operation; thus predetermined under efficient operating conditions

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Variance Analysis

Variance Analysis. Variance analysis. Variance analysis is the evaluation of performance by means of variances, whose timely reporting increase the opportunity for remedial action Variance analysis involves an investigation of the difference between Actual costs and standard costs or

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CHAPTER 14

CHAPTER 14. Cost Allocation, Customer Profitability Analysis, and Sales-Variance Analysis. Cost Allocation. Assigning indirect costs to cost objects These costs are not traced Indirect costs often comprise a large percentage of Total Overall Costs. Purposes of Cost Allocation.

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Chapter 7 Standard Costing and Variance Analysis

Cost Accounting Foundations and Evolutions Kinney, Prather, Raiborn. Chapter 7 Standard Costing and Variance Analysis. Learning Objectives (1 of 2). Describe how standards are set for material, labor, and overhead

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HFT 3431

HFT 3431. Chapter 10 Operations Budgeting. Budget Questions. What Are the Forecasted Revenues for the Month? What Is the Budgeted Labor for the Year? How Many Rooms Are Expected to Be Sold?. Budget Questions. What Is the Expected ADR? What Is the Departmental Income?

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Cost Analysis, Profit Planning, and Control

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Outsourcing Commercial Structure

Outsourcing Commercial Structure. International Outsourcing Federation Conference Prague 2 nd February 2008 Harry Keegan & Paul Robb. Paul Robb. Public Sector Lead, MBPS 19 years in outsourcing Delivery, business development, commercial roles EDS, PwCC, IBM (since acquisition in 2002 )

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STANDARD COSTING Incorporating Standards into the Accounting Records Pertemuan 6 dan 7

STANDARD COSTING Incorporating Standards into the Accounting Records Pertemuan 6 dan 7. Matakuliah : <<AKUNTANSI BIAYA II>> Tahun : <<2009>>. LEARNING OBJECTIVE. Prepare general journal entries : To record elements of cost at standard amounts To record standard cost variances

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Direct Input Variances, and Management Control: I

Direct Input Variances, and Management Control: I Chapter 7 Overview Standards Variances Static vs. Flexible budgets Calculate variances for direct inputs (DM & DL) EoP Adjustments When to investigate variances Standard = Budget Here budgeted amount = standard amount.

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Direct Input Variances, and Management Control: I

Direct Input Variances, and Management Control: I. Chapter 7. Overview. Standards Variances Static vs. Flexible budgets Calculate variances for direct inputs (DM & DL) EoP Adjustments When to investigate variances. Standard = Budget. Here budgeted amount = standard amount.

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Overhead Variances and Management Control: II

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Flexible Budgets/Variances II

Chapter Eight. Flexible Budgets/Variances II. Developing Budgeted Variable Overhead Allocation Rates. Step 1 : Choose the time period used to compute the budget. . Webb Co. uses a twelve-month budget period. Step 2: Select the cost-allocation base.

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Flexible Budgets/Variances II

Chapter Eight. Flexible Budgets/Variances II. Developing Budgeted Variable Overhead Allocation Rates. Step 1 : Choose the time period used to compute the budget. . Webb Co. uses a twelve-month budget period. Step 2: Select the cost-allocation base.

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Variance Analysis

Variance Analysis. Basic Variance Analysis Model. SQ x SP Flexible Budget Amount. AQ x AP Actual Cost. AQ x SP. AQ (AP-SP) Price Variance. SP (AQ - SQ) Usage Variance. Direct Material Variances. SQ = 20 ft./unit x 1,600 chairs. AQ x AP 33,600 x $1.90 = $63,840. AQ x SP

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Predetermined Overhead Rates and Overhead Analysis in a Standard Costing System

Predetermined Overhead Rates and Overhead Analysis in a Standard Costing System. Appendix 11A. Learning Objective 11-4. Compute and interpret the fixed overhead volume and budget variances. Fixed Overhead Volume Variance. Fixed Overhead Applied. Budgeted Fixed Overhead.

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Standard Costing System

Standard Costing System. Chapter 4 Managerial Accounting Concepts and Empirical Evidence. Price. Material Variances. Quantity. Rate. Labor Variances. Efficiency. Spending. Overhead (Indirect Costs) Variances. Efficiency. Budget. Volume. Standard Costing Variances. Standard

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A Monthly Budget Variance Report

A Monthly Budget Variance Report. For Variance Reports: A Positive value = Favorable (increases Net Income) A Negative value = Unfavorable (decreases Net Income). Variance Analysis. There are two sources of Variance between BUDGETS and ACTUALS. Spending differences

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