The Variable Overhead Spending Variance Is Calculated by Comparing

question 30

Multiple Choice

The variable overhead spending variance is calculated by comparing:

• A) Actual variable overhead cost incurred and the standard variable overhead rate times the actual amount of allocation base used during the period
• B) Actual variable overhead cost incurred and the fixed overhead cost incurred
• C) Actual price of direct materials and the expected price
• D) Actual direct labour hours used and the expected amount

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Definitions:

Voluntarily Enrolled

Choosing to participate in a program or study of one's own free will without coercion.

Medicaid

State medical assistance to people with low incomes, based on Title XIX of the Social Security Act. States receive matching federal funds to provide medical care and services to people meeting categorical and income requirements.

Low-Income Families

Households earning significantly less than the median income, often experiencing financial stress and limited access to resources.

Medicare

A federal health insurance program in the United States primarily for people who are 65 or older, as well as for some younger people with disabilities or specific conditions.