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FAR > budget > Flashcards

budget Flashcards

1
Q

Labor efficiency equation

A

SR(AH-SH)
SR = standard rate
AH = actual hours
SH = standard hours
total equation
(SRAH)-(SRSH)

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2
Q

equation for variable factory overhead variance

A

AH(AR-SR)
AH=actual hours
AR = actual rate
SR=standard rate
total equation
(AHAR)-(AHSR)

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3
Q

Equity method

A
  1. Company income is earned income for the investor on IS
  2. Dividends reduce investment balance on BS
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4
Q
A
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