Answer:
Variable overhead efficiency variance= $3,000 favorable
Explanation:
<u>To calculate the variable overhead efficiency variance, we need to use the following formula:</u>
Variable overhead efficiency variance= (Standard Quantity - Actual Quantity)*Standard rate
Standard quantity= 3*15,000= 45,000 hours
Actual quantity= 44,000 hours
Standard rate= $3 per hour
Variable overhead efficiency variance= (45,000 - 44,000)*3
Variable overhead efficiency variance= $3,000 favorable
Answer:
$332 favorable
Explanation:
The computation of the spending variance is shown below:
= Actual supplies cost - flexible supplies cost
where
Actual supplies cost is $2,310
And, the flexible supplies cost would be
= Actual level of activity × price per vehicle + supplies cost per month
= 54 vehicles ×$13 + $1,940
= $702 + $1,940
= $2,642
Now put these values to the above formula
So, the value would equal to
= $2,310 - $2,642
= $332 favorable
Answer:
Please refer the reason in detail below
Explanation:
For state and local government entities, additional standards are promulgated by the Governmental Accounting Standards Board ("GASB") and for the federal government, additional standards are promulgated by the Federal Accounting Standards Advisory Board ("FASAB").
GASB considers budgetary comparisons as an important part of the basic financial statements and financial reporting and therefore include budgetary comparisons in their concept statements
The answer would be C.) Business cycles.
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