A New Terminology for Blended or Stepfamilies That Is Meant

question 47

Multiple Choice

A new terminology for blended or stepfamilies that is meant to convey their positive qualities is:​

• A) ​super families.
• B) ​bonus families.
• C) ​intended families.
• D) ​comfort families.

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Definitions:

Overhead Volume Variance

Overhead volume variance is the difference between the budgeted overhead at standard production volumes and the actual overhead incurred due to variance in production volume.

Flexible Budget

A budget that adjusts or flexes with changes in volume or activity levels.

Direct Materials Quantity Variance

The difference between the actual quantity of direct materials used in production and the standard quantity expected to be used, multiplied by the standard cost per unit.

Direct Material Price Variance

The difference between the actual cost of direct materials and the standard cost multiplied by the quantity purchased, used in variance analysis for cost control.