memorize

This is a super lame post and probably won't make any sense but I have to have these memorized by Tuesday... posting notes here since my desk is such a hot mess right now.

Level two: Actual Results; Flexible Budget Variance; Flexible Budget; Sales Volume Variance; Static Budget

Level three: Actual Costs Incurred; Price Variable; Actual Input Quantity x Budget Price; Efficiency Variance; Flexible Budget (Standard Quantity x Standard Price)

Three-Variance analysis: Actual Costs Incurred; Spending Variance; Actual Input Quantity x Budgeted Rate; Efficiency Variance, Flexible Budget, Production Volume Variance, Allocated

NOTE:

When calculating Three-Variance Analysis for Variable Manufacturing Overhead there is never a production volume variance

When calculating Three-Variance Analysis for Fixed Manufacturing Overhead there is never a flexible budget variance