Presented Below Are Terms Preceded by Letters a Through H

question 155

Essay

Presented below are terms preceded by letters a through h and followed by a list of definitions 1 through 8.Enter the letter of the term with the definition,using the space preceding the definition.
(a)Unfavorable variance
(b)Fixed budget performance report
(c)Overhead cost variance
(d)Efficiency variance
(e)Spending variance
(f)Flexible budget performance report
(g)Quantity variance
(h)Favorable variance
________(1)Results from a comparison of actual cost or revenue to budget that contributes to a lower income.
________(2)A report that compares actual results with the results expected under a fixed budget.
________(3)When management pays an amount different from the standard price to acquire an item.
________(4)Results from a comparison of actual cost or revenue to budget that contributes to higher income.
________(5)Difference in variable overhead when the standard allocation base expected for actual production differs from the actual allocation base.
________(6)Difference between actual quantity of an input and the standard quantity of the input.
________(7)Difference between the total overhead cost applied to products and the total overhead cost actually incurred.
________(8)A report that compares actual performance and budgeted performance based on actual sales volume or other activity level.

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Definitions:

Strengths

The qualities or abilities possessed by an individual or organization that provide a distinct advantage over competitors or challenges.

Finding A Niche

The process of identifying a specific area within a market that has unmet or underserved needs, which a business or individual can focus on to find success.

Financial Benefits

Financial Benefits are economic advantages gained from certain situations or decisions, often measured as income, savings, or other financial gains.

Utmost Satisfaction

The highest or greatest level of satisfaction or pleasure experienced by an individual.