Variable Overhead Variances Are Closed to Spending and Efficiency Variance

question 21

True/False

Variable overhead variances are closed to spending and efficiency variance accounts.

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Definitions:

Test Value

A specific value used in hypothesis testing to compare against the statistic calculated from the sample data.

Chi-square Value

A statistical measure used to determine if a significant difference exists between the frequencies of observed and expected outcomes in one or more categories.

Respondents

Individuals who answer or respond to a survey or questionnaire.

Variable

A characteristic, number, or quantity that can be measured or quantified and can vary among subjects or over time.