acct511_4

Card Set Information

Author:
rymica
ID:
120532
Filename:
acct511_4
Updated:
2011-12-03 20:24:53
Tags:
managerial accounting
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Description:
Small batch of vocab cards for operational performance measurement chapter
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  1. Reasons for material usage ratio differences (4)
    • training and experience factors
    • quality of materials
    • poor supervision
    • production efforts
  2. Direct materials usage variance
    The difference between the actual raw material units used during the period and the standard units that should have been used during the period multiplied by the standard cost per unit of the direct material
  3. Direct labor rate variance
    Difference between the actual and the standard wage rate multiplied by the actual direct labor hours worked
  4. Direct labor efficiency variance
    Difference between total direct hours worked and total standard direct labor hours multiplied by standard direct labor rate

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