Examlex
After the outcome of an election is announced,George states that he knew all along what the outcome would be.This is a form of:
Overhead Controllable Variance
The difference between the actual overhead incurred and the expected overhead based on a standard cost or budget, within management's control.
Actual Overhead Costs
The real costs incurred for overhead in a manufacturing or production process, as opposed to budgeted or estimated costs.
Budgeted Overhead Costs
The anticipated costs associated with running operations that are planned for in advance during the budgeting process.
Volume Variance
A measure used in budgeting and accounting to analyze the difference between actual and budgeted sales volumes, affecting the total revenue.
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