Which of These Variances Is Least Significant for Cost Control

question 98

Multiple Choice

Which of these variances is least significant for cost control?

• A) Labor price variance.
• B) Material quantity variance.
• C) Fixed overhead price variance.
• D) Production volume variance.

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Definitions:

Goodwill

An intangible asset that represents the value of a company's brand name, solid customer base, good customer relations, good employee relations, and any patents or proprietary technology.

Buffer

A means of cushioning, isolating, or protecting; often used in the context of absorbing shocks or smoothing out fluctuations.

Refused Requests

Situations or communications where a petition or appeal for something is not granted or denied.

General Plan

A broad outline or strategy intended to guide decision-making and actions in a specific area.