3800042
Descripción
Fichas por lilianrewerts, actualizado hace más de 1 año
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Creado por lilianrewerts
hace alrededor de 9 años
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| Pregunta | Respuesta |
| Bill of materials | a source document that contains information about a product's material components and their specifications (including quality and quantities needed) |
| Budget variance | the difference between total actual overhead and budgeted overhead based on standard hours allowed for the production achieved during the period; computed as part of the two- variance overhead analysis; also referred to also the controllable variance |
| Controllable Variance | the budget variance of the two- variance approach to analyzing overhead variances |
| expected Standard | a standard set a level that reflects what is actually expected to occur in the future period; anticipates future waste and inefficiencies and allows for them; is of limited value for control and performance evaluation perfomance |
| Fixed Overhead Spending Variance | the difference between the total actual fixed overhead and budgeted fixed overhead; is computed as a part of the four- variance overhead analysis |
| Ideal standard | a standard that provides for no inefficiencies of any type, is impossible to attain on a continuous basis |
| Labor Efficiency Variance | The number of hours actually worked minus the standard hours allowed for the production achieved multiplied by the standard rate; establishes a value for efficiency (favorable) or inefficiency (unfavorable) of the work force |
| Labor Mix Variance | (actual mix X actual hours X Standard Rate) minus (Standard mix X actual hours X standard rate); presents the financial effect associated with changing the proportionate amounts of higher or lower paid workers in the production process |
| Labor Rate Variance | The actual ( or actual weighted average rate) paid to direct labor for the period minus the standard rate multiplied by all hours actually worked during the period; can also be calculated as actual labor cost minus (actual hours X standard rate) |
| Labor Yield Variance | (standard mix X actual hours X standard rate) minus ( standard hours X standard rate); shows the monetary impact of using more or fewer total hours than the standard allowed in the production process |
| Management by Exception | a management philosophy that indicates action is taken only when deviations are outside specified upper and lower tolerance limits |
| Material Mix Variance | (actual mix X actual quantity X standard price) minus (standard mix X actual quantity X standard price); is a measure of the monetary effect of substituting a nonstandard mix of material |
| Material Price Variance | total actual cost of material purchased minus (actual quantity of material X standard price); is the amount of money spent below (favorable) or in excess (unfavorable) of the standard price for thee quantity of material purchased or the actual quantity used |
| Material Quantity Variance | (actual quantity X standard price) minus (standard quantity allowed X standard price); reflects the cost saved (favorable) or expended (unfavorable) due to the difference between the actual quantity of material used and the standard quantity of material allowed for the goods produced during the period |
| Material Yield Variance | (standard mix X actual quantity X standard price) minus ( standard mix X standard quantity X standard price); computes the difference between the actual total quantity of input the standard total quantity allowed based on output and uses standard mix and standard prices to determine variance |
| Method Time Measurement (MTM) | an industrial engineering process that analyzes work tasks to determine the time a trained worker requires to perform a given operation at a rate that can be sustained for an eight- hour workday |
| Mix | any possible combinations of material or labor inputs |
| Non- controllable Variance | a fixed overhead volume variance; is computed as a part of the two- variance approach to overhead analysis |
| Operations Flow Document | a source document listing all operations necessary to produce one unit of product ( or perform a specific service) and the corresponding time allowed for each operation |
| Overhead Efficiency variance | the difference between total budgeted overhead at actual hours and total budgeted overhead at standard hours allowed for the production achieved; is computed as part of a three- variance analysis; is the same as variable overhead efficiency variance |
| Overhead Spending Variance | the difference between total actual overhead and total budgeted overhead at actual hours; is computed as part of a three- variance analysis; is equal to the sum of the variable and fixed spending variances |
| Practical Standard | a standard that can be reached or slightly exceeded with reasonable effort by workers; allows for normal, unfavorable delays and for worker breaks; is often believed to be most effective in inducing the best performance from workers because it represents an attainable challenge |
| Standard | a model or budget against which actual results are compared and evaluated; a benchmark or norm used for planning and control purposes |
| Standard Cost Card | a document that summarizes the direct material, direct labor and overhead standard quantities and prices needed to complete one unit of product |
| Standard Quantity | the standard quantity of input (in hours or some other cost driver measurement) required for the output actually achieved for the period |
| Total Overhead Variance | the difference between total actual overhead and total applied overhead; is the amount of under- applied or over- applied overhead |
| Variable overhead efficiency Variance | the difference between budgeted variable overhead based on actual input activity and variable overhead applied to production |
| Variable Overhead Spending Variance | the difference between total actual variable overhead and the budgeted amount of variable overhead based on actual input activity |
| Variance | a difference between an actual and a standard or budgeted cost; is favorable if actual is less than standard and is unfavorable if actual is greater than standard |
| Variance Analysis | the process of categorizing the nature ( favorable or unfavorable) of the differences between standard and actual costs and determining the reasons for those differences |
| Volume Variance | a fixed overhead variance that represents the difference between budgeted and fixed overhead and fixed overhead applied to production of the period; is also referred to as the non- controllable variance |
| Yield | the quantity of output that results form a specified input |
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