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:

Capital Expenditures

Capital utilized by a corporation to purchase, improve, and manage tangible assets including real estate, manufacturing facilities, or machinery.

Operating Activities

Refers to the primary day-to-day activities of a business that are involved in producing and selling its goods and/or services, which generate revenue.

Income Taxes Payable

The amount of income taxes that a company owes to the government, but has not yet paid, at a point in time.

Change

An alteration, modification, or transformation in something, often referring to procedures, products, or methodologies.