In Which Category Was There More Variability Apparent

question 55

Multiple Choice

In which category was there more variability apparent?

• A)Graduated College, Bachelor's Degree
• B)Graduated College, Associate's Degree
• C)No College
• D)Some College

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Definitions:

Variable Overhead Efficiency Variance

is the difference between the actual variable overhead incurred and the standard cost allocated, based on the efficiency of utilizing resources.

Variable Overhead Efficiency Variance

The difference between the actual variable overhead and what the variable overhead costs should have been for the actual good units produced.

Materials Quantity Variance

The difference between the actual quantity of materials used in production and the expected amount, which can indicate efficiency or waste.

Materials Price Variance

The difference between the actual cost of materials purchased and the expected cost, based on standard prices.