The Difference Between Actual Costs and the Costs That Should

question 131

Multiple Choice

The difference between actual costs and the costs that should have been incurred for the actual number of outputs is called the:

• A)flexible budget variance.
• B)price variance.
• C)static budget variance.
• D)sales volume variance.

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Definitions:

Change in Backlog

The variation in the quantity of unfulfilled orders or processes that are yet to be completed over a period of time.

Assignment Method

A mathematical technique used for allocating resources or tasks to recipients or locations in an optimal way.

Job Profit

The financial gain obtained from completing a specific project or job, calculated as the difference between the revenue generated and the costs incurred.

Shortest Processing Time

A scheduling priority rule that sequences jobs based on the shortest time required to complete them, aiming to minimize completion time and improve efficiency.