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Meanings of variance


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Category: Term

 
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Created by: KayeDavis
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overheadFixed _____ capacity variance10true
absorptionDifferences in production levels. If our _____ activity rate (units/machine hours/ labour hours) is different to budget, we will have absorbed a different amount of overhead.21true
Idle time varianceDefinition: Compare the total labour hours paid for With The productive labour hours30false
labourFor example, our overheads may have been absorbed on a _____ hour basis. But what if our labour is really efficient and making things more quickly? We will absorb less overheads. This variance will measure it51true
budgetedHow much of the variance is due to us using a different amount of labour per unit to what we had _____.61true
cost ActualDifferences due to _____ overheads may be different to budgeted overheads.71true
differentHow much of the variance is due to us using a _____ amount of material to what we had budgeted.81true