The Variable Overhead Efficiency Variance Is Calculated as

question 188

Multiple Choice

The variable overhead efficiency variance is calculated as

• A)actual cost - actual quantity x standard price.
• B)actual cost - standard quantity x standard price.
• C)standard price x actual quantity x standard quantity.
• D)actual results minus flexible budget amount.

---

Definitions:

Specified Benefit Plan

A retirement plan where the benefits to be received by employees are defined and specified in advance.

Defined Benefit Plan

A retirement plan in which an employer commits to paying a specified pension amount to employees upon retirement, based on factors like salary history and length of employment.

Defined Contribution Plan

A type of retirement plan where employees, employers, or both make contributions on a regular basis, but the benefits received at retirement depend on the performance of the investments.

Vested

A status where an employee has earned the right to receive full benefits from an employer's pension or retirement plan, typically after a specified period of service.