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What is a computer portable enough to fit on a lap or in a bag and has its own power source or battery?
Fixed Overhead Volume Variance
The difference between the budgeted fixed overhead and the actual fixed overhead incurred, due to changes in production volume.
Standard Cost
A predetermined cost of manufacturing an item, including direct materials, labor, and overheads, used for budgeting and performance evaluation.
Overhead Cost Performance Report
A document that compares the actual overhead costs incurred to the budgeted or standard overhead costs, for the purpose of monitoring and controlling these costs.
Efficiency Variances
Variances that occur when the actual performance deviates from the expected standards, often analyzed in terms of time, cost, and materials.
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