Intermediate

Manufacturing: Inventory Absorption & Variance

Calculates the overhead absorbed into inventory and identifies under/over-absorbed amounts.

Act as a Plant Controller. Based on {actual_labor_hours} and a predetermined overhead rate of {oh_rate} per hour, calculate the 'Applied Overhead.' Compare this to the 'Actual Overhead' of {actual_oh}. Provide the journal entry to close the {variance_amount} variance to COGS at month-end.

Related Prompts

Management Accounting & FP&A
Advanced

Standard Costing: Material & Labor Variances

Breaks down manufacturing variances into Price, Quantity, Rate, and Efficiency.

GPT-4oClaude 3.5 Sonnet
0
0
3
Management Accounting & FP&A
Beginner

Departmental Expense Budget Template

Provides a structured guide for managers to submit their annual spending requests.

GPT-4oGemini 1.5 Pro
0
0
4
Management Accounting & FP&A
Intermediate

Driver-based budget model template (revenue, headcount, opex)

Creates a driver-based budgeting framework and templates that link revenue drivers, headcount, and operating expenses. Useful for FP&A teams building a scalable budget process.

GPT-5.2 Thinking; GPT-4.1; o3-mini
0
0
2