When Completing a Variance Analysis,we Describe Variances as ________ or ________

question 42

Multiple Choice

When completing a variance analysis,we describe variances as ________ or ________.

• A)good;bad
• B)favorable;unfavorable
• C)positive;negative
• D)ideal;less than ideal

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Definitions:

Activity Cost Pools

A grouping of all costs associated with a specific activity, used in activity-based costing to more accurately allocate overhead costs.

Activity Rates

Rates used in Activity-Based Costing to assign overhead costs to products or services, based on specific activities that drive those costs.

Activity-Based Costing

An accounting method that assigns overhead and indirect costs to related products and services based on the activities that drive those costs.

Product I9

A reference to a specific product identified by the code I9, indicating a unique item or model in a company's product line.