Match the Following Terms with Their Definitions

question 2

Multiple Choice

Match the following terms with their definitions.
-Portion larger than base

• A)Portion is amount of increase
• B)0.008
• C)Rate less than 100%
• D)The whole
• E)Rate greater than 100%
• F)Portion is amount of decrease
• G)Percent, decimal, or fraction
• H)Followed by a percent symbol
• I)Result from base × rate
• J)33.33%

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Definitions:

Efficiency Variances

Refers to the differences between the actual and standard costs attributable to efficiency in using resources, often analyzed in labor and variable overhead.

Predetermined Overhead Rate

An estimated rate used to assign manufacturing overhead costs to individual units of production, based on a chosen activity base.

Denominator Level

In cost accounting, it refers to the standard quantity or activity used in calculating the predetermined overhead rate.

Variable Overhead Rate

The rate at which variable overhead costs are allocated to products, changing with the level of production.