The Difference Between the Total Actual Factory Overhead and the Total

question 31

Multiple Choice

The difference between the total actual factory overhead and the total factory overhead applied to production is the:

• A)sum of the spending,efficiency,budget,and volume variances.
• B)controllable variance.
• C)efficiency variance.
• D)spending variance.
• E)volume variancE.

---

Definitions:

Total Revenue

The total receipts a firm obtains from the sale of goods or services, calculated as the quantity sold multiplied by the price.

Declines

Situations where quantities, values, or levels decrease over a period.

Unregulated Pure Monopolist

A market condition where a single firm dominates the market without any regulatory oversight, controlling the price and supply of a good or service.

MR = MC

A principle in economics that indicates the profit maximizing level of production is reached when marginal revenue equals marginal cost.