The total direct labour variance can be broken down into two components: the efficiency variance and the hourly variance.
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Q16: The static budget is equal to budgeted
Q17: The sales price variance is caused by
Q18: The only variance for overhead is the
Q19: Revenue drivers include competition, market share and
Q20: Total budgeted revenues can be calculated using
Q22: The static budget compared to the flexible
Q23: Under standard costing direct materials are recorded
Q24: The direct materials efficiency variance compares the
Q25: The information required for the market size
Q26: Change in market size multiplied by budgeted
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