Calculate the variance analysis and (2) then analyze the finding
Calculate the variance analysis and (2) then analyze the findings. Besides the mathematical calculations of the problem, students must analyze the data
Calculate the variance analysis and (2) then analyze the finding
Please solve the attached variance analysis problem that is contained within the file of power point slides that is attached using the formula provided.
Do Not Create Your Own Problem.
Complete calculations out to 2 decimal points 00.00 (do not round). Use the formula provided in PPT slides.
1. Calculate the variance analysis and (2) then analyze the findings.
Besides the mathematical calculations of the problem, students must analyze the data and also submit an analysis of 250-500 words stating what could have been implemented for a more cost effective strategy in managing the environment.
Do not create a variance analysis on your own, follow the formula and the variance numbers provided to resolve the problem.
2. Slides 6-8-10 in an earlier example powerpoint display the process calculating each step of the Variance Analysis.
3. Should the manager have done anything differently in order to better control the budget? If so, what should have she/he done?
DO NOT complete this assignment in Excel. This assignment needs to be don e in a WORD document so that all steps of the process and calculations are visible.
More Details:
Variance analysis can be summarize d as an analysis of the difference between planned and actual numbers.
The sum of all variances gives a picture of the overall over-performance or under-performance for a particular reporting period.
For each item, companies assess their favorability by comparing actual costs to standard costs in the industry.
For example, if the actual cost is lower than the standard cost for raw materials, assuming the same volume of materials, it would lead to a favorable price variance (i.e., cost savings).
However, if the standard quantity was 10,000 pieces of material and 15,000 pieces were require d in production .