Indicate whether each statement is true or false. 1.a) DM quantity variance is favorable when the actual price is lower than the standard price/pound. (……….) 1.b) DL rate variance is unfavorable when the actual rate per hour was greater than the standard rate per hour. (……….)
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Indicate whether each statement is true or false.
1.a) DM quantity variance is favorable when the actual price is lower than the standard
price/pound. (……….)
1.b) DL rate variance is unfavorable when the actual rate per hour was greater than the
standard rate per hour. (……….)
Step by step
Solved in 2 steps with 2 images
- Compute for the following and Indicate if its FAVORABLE or UNFAVORABLE. Format: 11,111 F or 11,111 U Total gross profit variance = Price variance =Compute for the following and indicate if its FAVORABLE or UNFAVORABLE. Format: 11,111 F or 11,111 U Sales price variance = Sales volume variance= Sales variance=1. Explain the total sales volume variance for a period. How can this total variance be decomposed?2. Explain the meaning of the joint price-quantity variance.
- When is the material price variance unfavorable? A. when the actual quantity used is greater than the standard quantity B. when the actual quantity used is less than the standard quantity C. when the actual price paid is greater than the standard price D. when the actual price is less than the standard priceWhat are some possible reasons for a material price variance? A. substandard material B. labor rate increases C. labor rate decreases D. labor efficiencyFormat: 11,111 U or 11,111 F 1. Sales price variance 2. Cost price variance 3. Quantity variance 4. Sales mix variance
- Which of the following statements is false? a. The price factor refers to the change in selling or cost prices assuming there has been no change in units sold. b. The net gross profit variance can be computed by adding the sales price variance and the cost price variance. c. The price-volume factor refers to the sales or cost of sales variances due to the combined effects of the differences in prices and units sold d. The quantity factor refers to the change in the number of units sold assuming there has been no change in the selling or cost prices.Compute for the following and indicate if its FAVORABLE or UNFAVORABLE Format: 11,111 F or 11,111 U Price variance= Price-Quantity variance=Which of the following statements is false? a. The sum of the cost price variance and cost volume variance is equal to the cost of sales variance. b. The sum of sale mix variance and net gross profit volume variance is equal to the final sales volume variance c. The sum of the price factor and price-quantity factor is equal to the sales price variance. d. The sum of the sales price variance and sales volume variance is equal to the sales variance. e. The sum of the cost factor and price-quantity factor is equal to the cost price variance.
- 7. According to mean-variance rule A. The expected return of X is at least equal to the expected return of Y, and the variance is less than that of Y. B. The expected return of X is at least equal to the expected return of Y, and the variance is greater than that of Y. C. The expected return of X exceeds that of Y and the variance is equal to or more than that of Y. D. The expected return of X less than that of Y and the variance is equal to or more than that of Y.Calculate the range, the expected rate of return, the variance, and the standard deviation for the problem below: Economic Condition Probability Expected Return Better than expected 0.15 0.65 Good 0.25 0.3 Average 0.45 0.15 Poor 0.1 -0.15 Terrible 0.05 -0.35The variance of expected returns is equal to the square root of the expected returns. a. True b. False