Variance Analysis Flashcards
1
Q
Labour Rate
A
Budgeted rate x actual hours
vs actual total cost
2
Q
Labour Efficiency
A
Budgeted hours x actual units
vs actual total hours
valued @ standard rate per hour
3
Q
Fixed overhead expenditure
A
Budgeted overheads (not adjusted) vs actual total overheads
4
Q
Fixed overhead volume
A
Budgeted total overheads vs Absorbed (standard) overheads (actual units x OAR)
5
Q
Idle time
A
Idle time valued @ standard rate of hours worked
