If an Employee Gives a False Refund and Pockets the Cash

question 111

Multiple Choice

If an employee gives a false refund and pockets the cash, this would be considered a(n) :

• A)disbursement scheme.
• B)expense scheme.
• C)cash register scheme.
• D)check tampering scheme.

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Definitions:

Standard Direct Hours

Standard direct hours represent the estimated amount of time that should be spent by labor to produce a unit of output under normal conditions.

Fixed Factory Overhead Volume Variance

A measure used to assess the difference between the budgeted and the actual volume of production, impacting the budgeted fixed overhead costs.

Fixed Factory Overhead Volume Variance

This calculates the difference between the budgeted and actual volume of production, affecting the fixed overhead costs allocated to each unit of production.

Variable Factory Overhead Controllable Variance

The difference between the actual variable overhead costs and the budgeted costs controllable by management.