Responsibility for the Variable Overhead Spending Variance Is Usually Assigned

question 110

Multiple Choice

Responsibility for the variable overhead spending variance is usually assigned to

• A)the purchasing department.
• B)the production department.
• C)the engineering department.
• D)the personnel department.
• E)none of these.

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Definitions:

Carrying Amount

The net value of an asset or liability according to a company's balance sheet.

Supplies Used

Expenses related to consumable items used in the operation of a business.

Supplies Account

An account used to track the cost of supplies not immediately consumed by the business, often classified as a current asset.

Insurance Expense

Costs incurred by a business or individual for purchasing insurance coverage, considered an operating expense in accounting.