Match the Following Terms with the Items Below

question 70

Multiple Choice

Match the following terms with the items below:
-Fixed overhead volume 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:

Operational Excellence

A philosophy in the management that focuses on continuous improvement in business operations, aiming for efficiency, quality, and customer satisfaction.

Human Resource Management

The strategic approach to managing a company's employees, focusing on policies and systems to improve work life and maximize employee performance.

Operational Excellence

The execution of the business strategy more effectively and efficiently than the competition, often emphasizing the continuous improvement of processes and performance.

Value-Based Marketing

A marketing strategy focused on delivering products and services that provide high value, aligning marketing efforts with customer values and needs.