Examlex
Which of the following is the most likely order of a basic conversion activity model?
Budget Variance
Budget variance is the difference between budgeted or planned financial performance and the actual performance, indicating whether a business is over or under its budgeted amount.
Budgeted Overhead
An estimated cost for indirect expenses related to operations that a company or project is expected to incur over a specific period.
Variable Overhead
Costs that vary with production volume, including such expenses as indirect materials, supplies, and utilities for the production process.
Efficiency Variance
A measure in cost accounting used to assess the difference between the actual input used in production and the standard input expected to be used, for cost control purposes.
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