Can anyone tell me how do you find Price, rate, volume, and controllable variance?
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Can anyone tell me how do you find Price, rate, volume, and controllable variance?
Never mind I found the answer in case anyone else every needs help on the question:
Volume Variance:
Expected Normal Capacity (at 100%)
Standard for Actual Activity
Unused /Idle capacity
X Fixed Rate per hour
Overhead Volume Variance
Controllable Variance:
Actual Variable Costs
- Flexible Budget for Variable
= Overhead Controllable Variance
Rate Variance = Variance in Rate x Actual Time
Price Variance = Variance in Price x Actual Quantity
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