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Homework answers / question archive / 1)How do managers plan for variable overhead costs? 2

1)How do managers plan for variable overhead costs? 2

Finance

1)How do managers plan for variable overhead costs?

2.How does the planning of fixed overhead costs differ from the planning of variable overhead costs?

3. How does standard costing differ from actual costing?

Select the formula lables to show the differences between standard and actual costing, for direct and indirect costs.

4. What are the steps in developing a budgeted variable overhead cost-allocation rate

5. What are the steps in developing a budgeted fixed overhead rate?

6. What are the factors that affect the spending variance for variable manufacturing overhead?

7. Assume variable manufacturing overhead is allocated using machine-hours.  Give three possible reasons for a favorable variable overhead efficiency variance.

8. Describe the difference between a direct materials efficiency variance and a variable manufacturing overhead efficiency variance.

9. What are the variances in a 4-variance analysis?

10. Provide one caveat that will affect whether a production-volume variance is a good measure of the economic cost of unused capacity.

11. “The production-volume variance should always be written off to Cost of Goods Sold.” Do you agree? Explain.

12. “Overhead variances should be viewed as interdependent rather than independent.” Give an example.

13. Describe how flexible-budget variance analysis can be used in the control of costs of activity areas.

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