Responsibility for the Fixed Overhead Volume Variance Is

question 72

Multiple Choice

Responsibility for the fixed overhead volume variance is

• A)not assigned because fixed overhead costs do not change with activity changes.
• B)usually assigned to the production department.
• C)usually assigned to top management.
• D)usually assigned to the planning department.
• E)none of these.

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Definitions:

Standard of Care

The degree of prudence and caution required of an individual who is under a duty of care, often defined by the legal standard to avoid or minimize risk.

Director

An individual elected by shareholders or appointed to govern and oversee the management of an organization or corporation's affairs.

Corporation

A legal entity that is separate from its owners, with its own rights, privileges, and liabilities distinct from those of its members.

Director's Duties

Obligations that directors are expected to fulfill, including acting in the company's best interests and with due care.