When There Is a Difference Between the Actual and the Standard

question 139

Multiple Choice

When there is a difference between the actual and the standard capacity,which of the following,based solely on fixed overhead,occurs:

• A)Production variance.
• B)Volume variance.
• C)Overhead cost variance.
• D)Quantity variance.
• E)Controllable variance.

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Definitions:

Payroll Taxes

Taxes imposed on employers or employees, and are usually calculated as a percentage of the salaries that employers pay their staff.

Demand And Supply Diagram

A graphical representation used to show the relationship between the demand for a product and its supply, illustrating equilibrium price and quantity.

Efficiency Loss

Refers to the decrease in economic efficiency that can occur when equilibrium for a good or a service is not achieved, often due to market failure or intervention.

Health Insurance

Coverage under this type of insurance often includes payment for health-related services such as surgeries, medications prescribed by a doctor, and in some cases, dental procedures for the insured individual.