Which of the Following Variances Is Not Used in a Standard

question 147

Multiple Choice

Which of the following variances is not used in a standard cost system?

• A) Variable overhead spending variance.
• B) Fixed overhead spending variance.
• C) Variable overhead efficiency variance.
• D) Fixed overhead efficiency variance.
• E) Fixed overhead volume variance.

Identify and describe basic features of project scheduling software.

Comprehend the communication and dissemination of schedules to vendors and stakeholders.

Analyze differences between lag and lead times in project scheduling.

Recognize various graphical representations used in project scheduling, including Gantt and network charts.

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Definitions:

Imports

Goods or services bought from foreign countries for domestic consumption or use.

Free Trade

International trade left to its natural course without tariffs, quotas, or other restrictions.

Absolute Advantage

The ability of an individual, company, or country to produce a good or service at a lower cost per unit than the cost at which any other entity can produce the same good or service.

Comparative Advantage

The endowment of a person, enterprise, or nation to output a good or service at a diminished opportunity cost relative to rival entities.