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Dirickson Inc. has provided the following data concerning one of the products in its standard cost system. Variable manufacturing overhead is applied to products on the basis of direct labor-hours.
The company has reported the following actual results for the product for July:
-The variable overhead rate variance for the month is closest to:
Positive Association
A connection between two variables where both rise or fall simultaneously.
Little or No Association
A term used to describe a situation where there is minimal or no statistical relationship between two variables.
Moderately Strong Association
A statistical term indicating a considerable but not perfect relationship between two variables.
Linear Association
The relationship between two variables that can be represented accurately using a straight line in a scatterplot.
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