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If the FMV of the stock received in a Type E reorganization does not equal the FMV of the stock surrendered, the difference may be
July
The seventh month of the year in the Gregorian calendar, known for marking the midpoint of the calendar year.
Materials Price Variance
The difference between the actual cost of direct materials and the standard cost, multiplied by the actual quantity of materials used.
April
The fourth month of the year in the Gregorian calendar.
Variable Overhead Efficiency Variance
The difference between actual variable overhead based on the hours worked and the standard variable overhead for the same activity level.
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