Production volume variance is a statistic used by organizations to compare the cost of manufacturing items to the budgeted expectations. It compares the actual overhead costs per unit to the predicted or budgeted overhead expenses per item. It shows the difference between : The company's budgeted aRead more
Production volume variance is a statistic used by organizations to compare the cost of manufacturing items to the budgeted expectations. It compares the actual overhead costs per unit to the predicted or budgeted overhead expenses per item.
It shows the difference between :
- The company’s budgeted amount of fixed manufacturing overhead costs.
- The amount of the fixed manufacturing overhead costs that were assigned to (or absorbed by) the company’s production output.
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The coefficient of determination is a statistical measurement that investigates how variations in one variable may be explained by changes in another one. For example, when a person gets pregnant has a direct relation to when they give birth. In statistics, the coefficient of determination denoted bRead more
The coefficient of determination is a statistical measurement that investigates how variations in one variable may be explained by changes in another one.
For example, when a person gets pregnant has a direct relation to when they give birth.
In statistics, the coefficient of determination denoted by R2 or r2 and pronounced “R squared”.
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