The Two Basic Forms of Consequential Theory Are ______ Consequentialism

question 7

Short Answer

The two basic forms of consequential theory are ______ consequentialism.

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Definitions:

Variable Overhead Rate Variance

The difference between the actual variable overhead incurred and the standard cost allocated for the actual production level.

Variable Manufacturing Overhead

Costs that vary with production volume, such as utilities and materials used in the production process.

Variable Overhead Efficiency Variance

The difference between the actual variable overhead incurred and the expected (standard) overhead based on the efficient use of resources.

Variable Overhead Rate Variance

The difference between the actual variable overhead costs incurred and the expected costs at the standard variable overhead rate.