A(n) ______________________________ Is a Business Document Used to Notify the Customer

question 61

Short Answer

A(n) ______________________________ is a business document used to notify the customer of an obligation to pay the seller for merchandise which was ordered and shipped.

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Definitions:

Variable Overhead Cost Variance

The difference between the actual variable overhead costs incurred and the expected (or standard) costs, based on the actual level of activity.

Fixed Overhead Cost Variance

The difference between the actual fixed overhead costs incurred and the expected (or budgeted) fixed overhead costs.

Variable Overhead Efficiency Variance

A calculation that shows the cost impact of the difference between the actual and expected efficiency in using variable overhead resources in production.

Relevant Information

Data that can influence a decision-making process because it is pertinent and has a bearing on the situation.