A Graphic Presentation of Cost-Volume-Profit Data Is Known as a __________________

question 38

Essay

A graphic presentation of cost-volume-profit data is known as a __________________ graph (or chart);this presentation is also sometimes called a ______________ chart.
Answers must appear in this order.

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Definitions:

Variable Overhead Efficiency Variance

The difference between the standard cost of variable overheads allocated for actual production and the actual variable overheads incurred, used to assess efficiency in controlling variable overhead costs.

Fixed Overhead Spending Variance

The difference between the actual fixed overhead costs incurred and the budgeted or standard fixed overhead costs.

Variable Overhead Spending Variance

Refers to the difference between the actual variable overheads incurred and the standard variable overheads expected for the actual production level.

Direct Labor Efficiency Variance

The difference between the actual hours of direct labor used and the standard hours expected for the production achieved.