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Anonymous
Accounting homework help 2016-12-11 02:43:56 Post No. 1663497
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Accounting homework help 2016-12-11 02:43:56 Post No. 1663497
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So I am attempting to finish this assignment but I need help with a few parts.
1. Do I include overhead costs into variance calculations?
2. What is the Standard Quantity, Hours, Rates, and prices?
If someone could please help explain this to me I would be very grateful. Bonus points if you can give me the answers and briefly explain how you got them so I can verify them and understand the answer.
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>>1663500
unfortunately I cant do that, this assignment is one of those that the teacher will not help with.
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self bumping
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Sup ts, replying from a mobile, so can't work out the calculations
1. You only include overhead cost when you are calculating the overhead variance. Which is the last question.
2. Standard quantity/hours can be calculated by taking the actual units produced and multiply by the budgeted per unit hours/quantity. The result is the quantity/hours that SHOULD have been used for producing the actual units.
For prices/rate, its the same thing. Take the budgeted unit/labour rate and multiply by the actual quantity, then you get the amount that SHOULD be paying/using.
That is the standard figure. You compare it against the actual figure. And u get ur variance
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>>1663594
dude thank you. I really appreciate the response
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