The Difference Between Variable Overhead Incurred and Total Standard Variable

question 82

Multiple Choice

The difference between variable overhead incurred and total standard variable overhead for the output of the period is called the:

• A)Variable factory overhead flexible-budget variance.
• B)Variable factory overhead spending variance.
• C)Variable factory overhead rate variance.
• D)Variable factory overhead efficiency variance.
• E)Variable factory overhead usage variance.

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Definitions:

Accounts Receivable

Money owed to a company by its clients or customers for goods or services already delivered.

Journal Entry

Definition: A record in accounting that represents a transaction and its effect on various accounts in the double-entry bookkeeping system.

Supplies

Raw materials or tools necessary for the manufacturing or provision of services.

Services Rendered

Refers to the performance of services or completion of tasks by a company or individual in exchange for payment.