Match the Following Terms with the Items Below

question 85

Multiple Choice

Match the following terms with the items below:
-Fixed overhead spending variance

• A)(Actual hours - Standard hours)SVOR
• B)Prediction of what activity costs will be as activity output changes
• C)A measure of capacity utilization
• D)Actual variable overhead - (SVOR *Actual hours)
• E)Difference between the actual amount and the flexible budget amount
• F)A budget that specifies costs for a range of activity
• G)A budget for a particular level of activity
• H)Estimating activity output and then assessing the cost of resources to produce this output
• I)A report that compares actual with planned costs
• J)Difference between actual and budgeted fixed overhead

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Definitions:

Legal Document

A document that states some contractual relationship or grants some right, serving as official evidence of an agreement.

Business Transaction

An economic event or activity that changes an entity's financial statements, involving the exchange of goods, services, or funds between two or more parties.

Shortage Cost

Costs incurred from not having enough inventory or resources to meet demand, leading to potential lost sales.

Storage Costs

Expenses incurred for storing goods or materials until they are used or sold, which can impact a company's overall profitability.