The Variance from Standard for Factory Overhead Resulting from Incurring

question 82

True/False

The variance from standard for factory overhead resulting from incurring a total amount of factory overhead cost that is greater or less than the amount budgeted for the level of operations achieved is termed controllable variance.

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Definitions:

Variables

Elements, features, or factors that are liable to vary or change within a study, experiment, or any form of research.

Sample

A subset of individuals or items selected from a larger population, used in research to draw conclusions about the entire population.

Independent Variable

The variable that is manipulated or changed in an experiment to investigate its effect on the dependent variable.

Experimental Group

In a scientific study, the group of subjects who receive the treatment or condition being tested, as opposed to the control group.