Identify and State the Historical Significance of the Following

question 120

Short Answer

Identify and state the historical significance of the following:
-Ballinger-Pinchot affair

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Definitions:

Variable Overhead Rate Variance

The variance between the expected variable overhead according to standard cost and the actual variable overhead costs incurred.

Variable Overhead Efficiency Variance

The difference between the actual variable overhead costs and the standard cost of variable overheads for the actual production units.

Direct Labor-Hours

The total time worked directly on the manufacturing of products.

Variable Overhead Rate Variance

The difference between the actual variable overhead incurred and the standard cost of variable overhead allocated to the production based on a predetermined rate.