Standard Costing and Variance Analysis Formulas: Learning Objective of the article: 1. Learn the formulas to calculate direct materials‚ direct labor and factory overhead variances. This is a collection of variance formulas / equations which can help you calculate variances for direct materials‚ direct labor‚ and factory overhead. 1. Direct materials variances formulas 2. Direct labor variances formulas 3. Factory overhead variances formulas Direct Materials Variances: Materials purchase
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Computer Associates Ethics Paper Brief Summary: Based in Islandia‚ N.Y.‚ Computer Associates dominated the market for mainstream utility software‚ programs that helped the computers used by big companies run more efficiently. The company also offers security & storage software. Computer Associates used variety of tricks to inflate its reported profits during the 1990’s. In October 2000‚ the company changed the way it sold software and the way it reported its sales. The Securities and Exchange
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The competition relationship between the Navitas and Kaplan is based on high educational service. They both play an important role at own educational fields and geographical fields. According to Brandenburger and Nalebuffs Value Net model Assume that Navitas is the company and Kaplan is one of competitors of Navitas. Most of customers are international students because of the target market of the Navitas. And the suppliers can be universities that have a positive relation with the Navitas such as
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Limitations of using variance analysis for performance evaluation Variance analysis is the process of examining in detail each variance between actual and standard costs to determine the reasons why budgeted results were not met. Despite the advantages highlighted above‚ there are several limitations that may result in the use of variance analysis for performance evaluation. I. The Barnes Scuba Diving business as a whole The analysis of the results might be imprecise due to overlooking other vital
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product-line income statement. Combining elements from these three paradigms will allow us to include aspects of product life cycles and products that are expected to be cash users versus cash generators during different stages of their life cycles in our analysis of product-line income statements. Question 1.3 According to Mersereau it is often accountants who are the first to resist accounting
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From: Candidate Subject: New Look Jackets Variance Analyses and Draft Operating Budget Introduction The following report explains the significance and reasons for the variances in New Look Jacket’s 2012 detailed variance report and provides a draft operating budget for 2013. Analysis of Variances The sales price variance is zero‚ meaning the average price New Look Jackets sold products was the same as the budgeted sales price. The sales mix variance is unfavourable for Nylon Jackets and favourable
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IT460 Unit 1 Project Kaplan University JAD (Joint Application Development) is a methodology which uses customer involvement. The development team works together with the customer to develop the processes that the software will support and develop the processes as to work directly with the customer’s business needs. The JAD approach was developed due to the ineffectiveness of the technique of interviewing stakeholders individually to identify requirements. The technique focused on individual
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Software Analysis and Evaluation Prepared By: 1. Purpose and Approach of the Software Analysis and Evaluation The purpose of this software evaluation is to analyze and test various accounting software packages to determine which package best meets our needs. I have determined our requirements on a matrix and have developed the test data to conduct the evaluation. Using the attached software evaluation matrix and test data‚ I have tested each software package using the same test data
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case study‚ we conclude that we need to do a variance analysis to better understand the plant performance compared to the previous year. The main problem in related to this case is about the falling in revenues‚ the performance of coal-plant‚ the price of coal and the quality of coal. All of this problem will be answered in the next sections in the qualitative analysis of Luotang Power. VARIANCE ANALYSIS QUANTITY VARIANCE The variance analysis is defined as the difference between the expected
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Quality Associates‚ a consulting firm‚ advises its clients about sampling and statistical procedures that can be used to control their manufacturing processes. In particular application‚ a client gave Quality Associates a sample of 800 observations taken during a time in which that client’s process was operating satisfactorily. The sample standard deviation for these data was 0.21; hence with so much data‚ the population standard deviation was assumed to be 0.21. Quality Associates then suggested
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