EFT Debits are processed in the evening. Intecon provides access to a service that gives the business or organisation the ability to verify the bank account details prior to loading the payment instruction.
Whereas the cost variances for direct materials, direct labor, and variable overhead all use the same two formulas, the cost variances for fixed overhead are different, and do not use these formulas at all.
Cost Variance. A cost variance is the difference between the actual expenses incurred and the standard expenses estimated at the beginning of a period. Management uses these variances are used to analyze and track the progress of production processes, budgets, and other operations.