Answer:
Variable overhead efficiency variance measures the actual change in actual variable overhead cost that occurs because of efficient use of direct labor hours where as labor efficiency variance indicates variance of efficiency labor hours and ineffective labor that is there in production units.
Answer:
D) in performance report we found all the three cost formula for each item as on the basis of which we calculate variance among the two and secondly we find budget for actual hours which is calculated by using actual hours multiplied by standard variable overhead rate and by using budget of standard hours for each is used to calculate efficiency variances.
Answer:
Static budget and flexible budget are two different forms of budget which is formed by any organization depend on situations. Static budget is a budget which created well in advance before getting into that activity for which budget has been prepared. It will help an organization to estimate overall cost which they have to incur during commencement of project.
Flexible projects are that project which are a prepared for particular division or activity. It is prepared during course of business in order to overcome budgetary problem for particular activity of a business. It is flexible as company has to re create this budget according to the situation of company's activity