Examlex
Which of the following statements is true?
Overhead Cost Variance
The difference between the actual overhead costs incurred and the standard or expected overhead costs.
Standard Cost Card
A document that lists the standard costs associated with producing a product, including materials, labor, and overhead rates.
Direct Labor Hour
Direct labor hour refers to the time spent by workers directly involved in the production of goods or services.
Overhead Applied
A portion of overhead costs assigned to a particular cost object based on a predetermined rate.
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