Which of the Following Is Not an Overhead Variance

question 39

Multiple Choice

Which of the following is not an overhead variance?

• A) Variable-overhead spending variance.
• B) Variable-overhead efficiency variance.
• C) Fixed-overhead efficiency variance.
• D) Fixed-overhead budget variance.
• E) Fixed-overhead volume variance.

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Definitions:

Long-run Equilibrium

A state in which all factors of production and outputs are variable, leading to a situation where all firms in a market are making normal profit.

Perfectly Competitive

characterizes a market structure where there are many buyers and sellers, all selling homogeneous products, with no single participant able to influence the market price of the product.

Conditions

The circumstances or factors affecting the way in which people live or work, especially with regard to their safety or well-being.

Investment Capital

Funds invested in a project, company, or any economic endeavor with the expectation of generating a future return.