Examlex
Consider the following frequency distribution:
What is the cumulative frequency of the second class interval?
Overhead Volume Variance
This measures the difference between the budgeted fixed manufacturing overhead and the applied manufacturing overhead, based on the actual production volume.
Capacity Utilization
Refers to the percentage of total potential output that is actually being produced at a given time, measuring the efficiency with which a company uses its productive capacity.
Manufacturing Overhead
All indirect costs related to the production process, such as utilities for the factory, depreciation of manufacturing equipment, and salaries of the manufacturing personnel.
Variance
Variance is a statistical measure that represents the dispersion or spread of a set of values, specifically showing how much the values differ from the mean of the set.
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