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f.accounting
| Term | Definition |
|---|---|
| Overhead expenditure variance | Budgeted expenditure - actual expenditure |
| Overhead volume variance | (Budgeted volume - actual volume)×abs per unit |
| Overhead capacity variance | (Budgeted hrs - actual hrs) × abs per unit |
| Overhead efficiency variance | (Std hrs - actual hrs) × abs rate per hour for actual production |
| Fixed overheads variance | Std cost of overheads for one × qty produced - actual cost of overheads |
| Total materials variance | Std cost of materials for one × qty produced - actual cost of materials or std price × std qty - atual qty × actual price |
| Material price variance | The change in price × actual qty used or (std price - actual price) × actual qty |
| Materials usage variance | The total difference in qty used × std price per unit or (std qty - actual qty) × std price |
| Total labour variance | Std cost of labour for one × qty produced - actual cost of labour or std rate × std hours - actual rate × actual hours |
| Labour rate variance | The change in the rate of pay × the actual hrs worked or (std rate - actual rate) × actual hrs |
| Labour efficiency variance | (Std hrs - actual hrs worked) × std hourly rate |
| Labour idle time variance | Hrs of idle time × std rate per hour |
Created by:
100000911785871
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