Accumulated Other Comprehensive Income Includes

question 63

Multiple Choice

Accumulated other comprehensive income includes

• A)the balance of all previous debits to other comprehensive income.
• B)the balance of all previous debits and credits to other comprehensive income.
• C)current year's net income
• D)(a) and (b)

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Definitions:

Variable Overhead Rate

Variable overhead rate is the ratio of variable overhead costs incurred for every unit of activity or a specific measure of activity, such as labor hours.

Direct Labor-Hours

The total hours worked by employees directly involved in the manufacturing process or production of goods and services.

Variable Overhead Rate

A rate that changes with the level of activity or production volume, applied to variable overhead costs.

Lubricants Variance

A difference between the expected and actual cost of lubricants used in a manufacturing or operational process.