Match Each of the Following Formulas or Descriptions with the Term

question 140

Multiple Choice

Match each of the following formulas or descriptions with the term (a-e) it defines.
-Standard variable overhead for actual units produced

• A)Direct materials price variance
• B)Direct labor rate variance
• C)Direct labor time variance
• D)Direct materials quantity variance
• E)Budgeted variable factory overhead

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Definitions:

Deferred Expenses

Costs that have been incurred but not yet expensed in the income statement because they will benefit more than one accounting period.

Initial Cash Flow

The initial movement of money for an investment or project, often an outlay, which is considered when evaluating the potential financial returns.

Liabilities

Liabilities are financial obligations a company owes to external parties, such as loans, accounts payable, and mortgages.