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Match the Terms with Their Correct Meanings

question 57

Multiple Choice

Match the terms with their correct meanings.

-Relieving symptoms, but not curing


Definitions:

FOH Budget Variance

is the difference between the budgeted factory overhead costs and the actual overhead costs incurred.

FOH Volume Variance

A measure used in accounting to describe the difference between the budgeted and actual volume of production, affecting fixed overhead costs.

Standard Cost Variances

Differences between the actual costs incurred and the standard costs that were expected or budgeted, used for budget control and financial analysis.

Raw Materials

Basic substances in their natural, modified, or semi-processed state used as inputs to a production process for manufacturing goods.

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