×

### Let's log you in.

or

Don't have a StudySoup account? Create one here!

×

or

## Class #18 Notes

by: Brandon Sangster

14

0

0

# Class #18 Notes Acc 204

Marketplace > Pace University > Business > Acc 204 > Class 18 Notes
Brandon Sangster
Pace
Financial Accounting
Picheng Lee

These notes were just uploaded, and will be ready to view shortly.

Either way, we'll remind you when they're ready :)

Get a free preview of these Notes, just enter your email below.

×
Unlock Preview

This is the beginning of Chapter 10 focusing on Standard Costs and Variances that has examples and definitions to help you with the material.
COURSE
Financial Accounting
PROF.
Picheng Lee
TYPE
Class Notes
PAGES
0
WORDS
KARMA
25 ?

## Popular in Financial Accounting

This 0 page Class Notes was uploaded by Brandon Sangster on Monday November 9, 2015. The Class Notes belongs to Acc 204 at Pace University taught by Picheng Lee in Fall 2015. Since its upload, it has received 14 views. For similar materials see Financial Accounting in Business at Pace University.

×

## Reviews for Class #18 Notes

×

×

### What is Karma?

#### You can buy or earn more Karma at anytime and redeem it for class notes, study guides, flashcards, and more!

Date Created: 11/09/15
Brandon Sangster Class18 Managerial Accounting Prof Picheng Lee Chapter 10 Standard Costs and Variances Price Standards Specify how much should be paid for each unit of input Quantity Standards Specify how much of an input should be used to make a product or provide a service Standard Rate per hour It is a single rate of how much someone is supposed to pay for the unit Standards Hours per Unit How much time is invested for a unit of a product to be produced Variance Analysis in this chapter is measured by the difference between actual and standard price and the difference in quantity comparing to see if they fall under being favorable or unfavorable Example1 Materials Variance Actual AQxAP Flexible AQxSP Planned SQxSP 210x490 210x5 00 01x2000x5 00 1029 1050 1000 Price Variance 21 Favorable Quantity Variance 50 Unfavorable Spending Variance 29 Unfavorable Example 2 Labor Variance Actual AHxAP Flexible AHxSP Planned SHxSP 2500x1050 2500x10 2000x12x10 26250 25000 24000 Price Variance 1250 Unfavorable Quantity Variance 1000 Unfavorable Spending Variance 2250 Unfavorable Production Managers are accountable for labor variances which are having a mix of skill levels assigned to work tasks level of employee motivation quality of production supervision and quality of training provided to employees Example 3 Variable Manufacturing Overhead Actual AHxAP Flexible AHxSP Planned SHxSP 2500x42 2500x400 2000x12x400 10500 10000 9600 Price Variance 500 Unfavorable Quantity Variance 400 Unfavorable Spending Variance 900 Unfavorable

×

×

### BOOM! Enjoy Your Free Notes!

×

Looks like you've already subscribed to StudySoup, you won't need to purchase another subscription to get this material. To access this material simply click 'View Full Document'

## Why people love StudySoup

Steve Martinelli UC Los Angeles

#### "There's no way I would have passed my Organic Chemistry class this semester without the notes and study guides I got from StudySoup."

Janice Dongeun University of Washington

#### "I used the money I made selling my notes & study guides to pay for spring break in Olympia, Washington...which was Sweet!"

Steve Martinelli UC Los Angeles

Forbes

#### "Their 'Elite Notetakers' are making over \$1,200/month in sales by creating high quality content that helps their classmates in a time of need."

Become an Elite Notetaker and start selling your notes online!
×

### Refund Policy

#### STUDYSOUP CANCELLATION POLICY

All subscriptions to StudySoup are paid in full at the time of subscribing. To change your credit card information or to cancel your subscription, go to "Edit Settings". All credit card information will be available there. If you should decide to cancel your subscription, it will continue to be valid until the next payment period, as all payments for the current period were made in advance. For special circumstances, please email support@studysoup.com

#### STUDYSOUP REFUND POLICY

StudySoup has more than 1 million course-specific study resources to help students study smarter. If you’re having trouble finding what you’re looking for, our customer support team can help you find what you need! Feel free to contact them here: support@studysoup.com

Recurring Subscriptions: If you have canceled your recurring subscription on the day of renewal and have not downloaded any documents, you may request a refund by submitting an email to support@studysoup.com