Four- (4-) Way, Three- (3-) Way, Two- (2-) Way Overhead Variance Approaches

This is a continuation of the demonstration problem on variance analysis under the standard costing, focusing on the overhead variances.
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[rhaynmaeerezo]

In this video lecture, I learned about processes, problem-solving, and various approaches for dealing with overhead variances. I have realized that if you are already familiar with the four-way overhead variance approach to problem-solving, the three-way, two-way, and one-way overhead variance ways are easier to understand. Thank you for this, Sir A!

[perpusejennyirene]

I've learned through watching this video lecture how much easier it is to perform the One, Two, and Three-Way Approaches when you start with the Four-Way Approach. The breakdown of all required figures for the other three is already provided in the Four-Way. Just be sure to thoroughly consider the required amount while paying close attention to the actual and standard values. Thank you, Sir A!

[cristinemaearcenio]

Through this video lecture, I've learned the 4 categories of variances which are the Material, Labor, VOH, FOH Variances and its computation by applying the four-way, three-way, two-way, and one way overhead variance approaches. Thank you, Sir A!

[maryperzlentereso]

In the previous lecture video, the four-way approach is used wherein the fixed and variable overhead are separated in computing for the variance, unlike the 3 remaining approaches wherein it combines both fixed and variable overhead. In the three-way method, 3 components are computed to get the total overhead variances. The total spending variance (VOH + FOH), efficiency variance (VOH), and volume variance (FOH). In the two-way approach, there are only 2 components which are the budgeted variance (total spending variance + efficiency variance) and volume variance (FOH). In the one-way method, the actual total overhead is deducted by the standard total overhead to compute for the total overhead variance also known as the underapplied and overapplied overhead. Thank you for another informative lecture video, Sir A!

[lisingmariellar.]

In this video lecture, I learnt about the four-way, three-way, two-way, and one-way approaches to overhead variance. I realized that if you’re already knowledgeable with the four-way overhead variance approach, the three-way, two-way, and one-way overhead variance methods are easier to understand. Thank you for this lecture, Sir A!

[celinesleahmanansala]

What I learned in this video lecture is the difference between the four-way OH variance - that was used in the previous lecture, from the three-way and two-way OH variance. The lesson was easy to understand because you gave the formulas and even showed how to use them. Thank you, Sir A!

[hanvcn_nah]

This video lecture has helped me to realise how much simpler the One, Two, and Three-Way Approaches are to complete when you use the Four-Way Approach as your foundation. The Four-Way already includes a breakdown of all the necessary sums for the other three. Simply choose the amount needed carefully, paying close attention to the actual and standard amounts. Thank you sir!

[merantejudilyna.]

I learned how to compute and analyze the variations in overhead expenses from this video lesson using the Four-Way, Three-Way, and Two-Way Overhead Variance Approaches.  The Four-Way Overhead Variance approach splits the overhead cost into four separate variances: variable spending variance, variable efficiency variance, fixed spending volume variance, and fixed volume variance. The Three-Way Overhead Variance approach splits the overhead cost into three separate variances: spending variance, efficiency variance, and volume variance. The Two-Way Overhead Variance approach splits the overhead cost into two separate variances: budget variance and volume variance. It will be easier to understand the three-way, two-way, and one-way overhead variance techniques if you are already familiar with using the four-way overhead variance. Thank you for this informative video lecture, Sir A!

[christinenicolealoba]

With the help of this video lecture, the 4 variances of Overhead are clearer to me as there are illustrations on getting it through the four-way, three-way and two-way variance approaches. Thank you, Sir A!

[drewcoronacion]

I learned about the different approaches to solve for overhead variances. At first, I thought the approaches would be difficult but upon watching, I realized that in order to do the three, two, and one-way, we must first understand how to do the four-way approach as all are interconnected. Thank you for this video lecture, sir!

[iligpaulinejoye.]

As I watched the video, I learned that if you are already familiar with using the four-way overhead variance strategy to solve problems, it will be simpler for you to understand the three-way technique, two-way method, and one-way overhead variance strategies.

Thank you sir, A!

[cjaldrincastillo]

There are 4 approaches to the overhead variance. In the 4-way approach, FOH and VOH are separated. While in other approaches, FOH and VOH are combined in the comparison. Once you get how the compute using the 4-way OH variance approach, the other approaches will be much easier to follow. Thank you, Sir A, for the brief and informative video.

[nikhelt.dagdag]

After watching the video, I was now able to understand the distinctions between the 4-way, 3-way, 2-way, and 1-way variance approaches. Since we are using the two and three-way techniques while relying on the OH Four-Variance Approach, this section is simple to understand. After conducting the three-way variance approach, the proceeding approaches will be easy. Thank you for this lecture, Sir A!

[pinedareneekyrstel]

I learned the variance computations by using four-way, three-way, two-way, and one-way approaches. I also learned the difference between the four approaches, wherein the four-way approach calculates the variance by separating VOHSV, VOHEV, FOHSV, and FOHVV. In the three-way approach we are combining the spending variance in VOH and FOH, while in the two-way approach, we are combining the budgeted variance. I also think making a four-way approach is much better so that we will just pick up the answers to make a three, two or one-way approach. Thank you for this lecture video, Sir A!

[Angelica-dkmp]

After watching this video, I learned the various ways of computing overhead variances. While watching this video lecture, I always keep in mind that I must know the similarities and differences of these approaches in order to understand them better, as well as to make it seem easier. Thank you, Sir A!

[franzinekhatemontilla]

With the help of this video lecture, I learned about the different approaches of overhead variance which are four-way, three-way, two-way, and one-way. Different approaches, different ways of computation, but every approaches have the same result so that it is important to understand the process well in order to differentiate every approaches. Thank you, Sir A!

[janellamaecorpuz]

In this video, I learned about the four ways of overhead variance approaches. I realized that once we get the four-way overhead variances, we can simply derive the values to get the three-way, two-way and one-way variances. Thank you for the informative video lecture sir A!

[rhoahninocencio]

With this video lecture, I have learned the different approaches to computing overhead variances (the four-way, three-way, and two-way methods). The three-way, two-way, and one-way overhead variance approaches are easier to understand if you are already familiar with the four-head overhead approach. Thank you, Sir A!

[faith_cmprn]

I gained knowledge of the various approaches in computing overhead variances by watching this video lecture. At first I found it confusing, but then as the discussion went on, I was able to see the distinctions and similarities in the way these variances computed. Thank you, Sir A!

[amiellefelisesalamante]

In this video lecture, I have learned about the three-way, two-way and four-way variance approaches. The overall concept is a little complex but if I follow the steps thoroughly, I will sure get the grasp of the lesson. It is vital for me to understand the similarities and differences of the approaches so that I know how I can differentiate them. Thank you very much, sir A!