Refer to Scenario: Tentree Apparel

question 62

Multiple Choice

Refer to Scenario: Tentree Apparel.Tentree Apparel aims "to plant 1 billion trees by 2013." What type of statement does this quote describe?

• A)goal
• B)policy
• C)strategic plan
• D)value statement

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Definitions:

Overapplied

A condition where the allocated amount of indirect costs exceeds the actual amount incurred.

Variable Overhead Efficiency

The variance indicating the efficiency with which a variable overhead cost is incurred in relation to an activity level, such as machine or labor hours.

Rate Variance

The difference between the actual rate paid for an item or service and the expected (standard) rate, used in budgeting and cost control.

Budget Variance

A measurement of the difference between the budgeted or planned amount of expense or revenue, and the actual amount incurred/sold.