The Variance Least Significant for Purposes of Controlling Costs Is

question 12

Multiple Choice

The variance least significant for purposes of controlling costs is the

• A)material quantity variance.
• B)variable overhead efficiency variance.
• C)fixed overhead spending variance.
• D)fixed overhead volume variance.

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Definitions:

Production Era

A period in the history of marketing thought, roughly from the early 20th century until the 1950s, where the focus was on production capabilities and efficiency rather than on meeting the needs of customers.

Consumer Demand

The desire and willingness of consumers to purchase goods and services at various price points, driving the market dynamics for those goods and services.

Profitability

The ability of a company to generate earnings more than its expenses and costs, determining its financial success and viability.

Latent Need

A customer's unrecognised or subconscious need that has not yet been identified or addressed by companies.