To Create a New Company Data File in QuickBooks, Use

question 26

Multiple Choice

To create a new company data file in QuickBooks, use the:

• A)Company menu > New Company
• B)Company section of the Home page > New Company
• C)File menu > Open or Copy Company
• D)File menu > New Company

---

Definitions:

Manufacturing Overhead

The sum of all costs involved in the production process other than direct materials and labor, such as utilities and rent for the manufacturing facilities.

Fixed Overhead Volume Variance

The difference between the budgeted and actual volume of units produced, multiplied by the standard fixed overhead rate.

Labour Efficiency Variance

The difference between the actual labor hours taken to produce a good and the standard hours expected, multiplied by the standard labor rate.