Match the Variance to the Correct Definition

question 52

Multiple Choice

Match the variance to the correct definition.
-Cost variance

• A)measures how well the business uses its materials or human resources
• B)the difference between the expected results in the flexible budget for the actual units sold and the static budget
• C)the difference between actual results and expected results in the flexible budget for the actual units sold
• D)measures how well the business keeps unit material and labor costs within standards
• E)the difference between actual results and the expected results in the static budget

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Definitions:

Slope

A measure of the steepness or incline of a line, calculated as the ratio of the vertical change to the horizontal change between two points on the line.

Forbes 500 List

An annual ranking by Forbes magazine of the 500 largest U.S. corporations, based on their revenue.

Regression

A statistical method used to determine the relationship between a dependent variable and one or more independent variables, often used for prediction and forecasting.

Slope

In statistics, the rate at which one variable changes over another, specifically in the context of linear regression.