Examlex
An employee's name and number would be an example of ________.
Variable Overhead Rate Variance
Variable overhead rate variance is the difference between the actual variable overhead costs incurred and the expected (standard) costs, influenced by fluctuations in production activity levels.
Materials Price Variance
The difference between the actual cost of materials and the standard (or expected) cost, indicating how much more or less was spent on materials than was planned.
Labor Rate Variance
The difference between the actual cost of labor and the budgeted cost of labor at the standard rate.
Variable Overhead Rate Variance
The difference between the actual variable overhead incurred and the expected variable overhead based on standard cost accounting.
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