The balances for the accounts listed below appeared in the Adjusted Trial Balance columns of the work sheet.Indicate whether each balance should be extended to a the Income Statement columns or b the Balance Sheet columns.
Definitions:
Variable Overhead
Overhead costs that fluctuate with the level of production output, such as utilities for machinery or costs for raw materials.
Direct Labour Hour
A measure of the amount of time a worker spends on direct production activities.
Flexible Budget
A budget that adjusts or flexes with changes in volume or activity levels within a business.
Volume Variance
The difference between the expected volume of production or sales and the actual volume, affecting budget and performance analysis.
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