A Dollar Sign ($)As the First Character in a Variable

question 58

True/False

A dollar sign ($)as the first character in a variable means it is a class variable that can be referenced in any procedure within the class.

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Definitions:

Direct Labor Rate Variance

The difference between the actual cost of direct labor and the standard cost, demonstrating how actual labor costs differ from budgeted amounts.

Materials Price Variance

The difference between the actual cost of materials used in production and the standard cost, multiplied by the quantity of materials used.

Fixed Manufacturing Overhead

The portion of manufacturing overhead costs that do not vary with production volume, such as rent and salaries of supervisors.

Direct Labor Variances

The difference between the actual labor costs incurred and the standard labor costs for the actual production level.