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Two identical gliders slide toward each other on an air track. One moves at 1 m/s and the other at 2 m/s. They collide, stick, and moves at
Controllable Variance
The difference between the expected cost and the actual cost that management has the power to influence or control.
Fixed Factory Overhead
Regular, consistent expenses incurred in the operation of a factory that do not vary with production level, such as rent, salaries, and insurance.
Volume Variance
The difference between the expected volume of production and the actual volume, which impacts the allocation of fixed costs in some costing systems.
Direct Labor Rate Variance
The difference between the actual costs of labor and the expected (or standard) costs, based on the hourly wage rates times the number of hours worked.
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