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ACC Chapter 10
Variances
10
Accounting
Undergraduate 2
10/31/2007

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Cards

Term
Price Variance  
Definition
(AQ*AP) - (AQ*SP) = AQ(AP-SP)
Term
Quantity Variance
Definition
(AQ*SP) - (SQ*SP) = SP(AQ-SQ)
Term
Labor Rate Variance  
Definition
AH ( AR-SR )
Term
Labor Effeciency Variance
Definition
SR (AH - SH)
Term
Variable Manufacturing Overhead Spending Variance (VMSV)
Definition
AH (AR - SR)
Term
Variable Manufacturing Overhead Efficiency Variance (VMEV)
Definition
SR (AH - SH)
Term
Delivery Cycle Time  
Definition
Wait time, process time, inspection time, move time, and queue time
Term
Throughput Time  
Definition
Process time, inspection time, move time, and queue time
Term
Manufacturing Cycle Efficiency
Definition
is Process time divided by throughput time
Term
Delivery Cycle Time
Definition
Wait time plus throughput time
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