The Term "Operations" Is Commonly Used to Refer To

question 94

Multiple Choice

The term "operations" is commonly used to refer to:

• A)The main function of the business
• B)Any function of the business which generates revenues
• C)Only those functions of the business accomplished by the operations department
• D)Only those functions which move inventory through the production cycle

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Definitions:

Variable Overhead Rate Variance

The difference between the actual variable overhead incurred and the standard cost allocated for the actual production level.

Variable Manufacturing Overhead

Costs that vary with production volume, such as utilities and materials used in the production process.

Variable Overhead Efficiency Variance

The difference between the actual variable overhead incurred and the expected (standard) overhead based on the efficient use of resources.

Variable Overhead Rate Variance

The difference between the actual variable overhead costs incurred and the expected costs at the standard variable overhead rate.