What Are the Two Variances for Variable Overhead

question 37

Multiple Choice

What are the two variances for variable overhead?

• A) volume and budget variances
• B) budget and spending variances
• C) efficiency and volume variances
• D) spending and efficiency variances

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Definitions:

Recruitment Costs

Expenses incurred by an organization in the process of finding and hiring new employees, including advertising, interviewing, and training expenses.

Labour Demand

The need or desire for labor within the market or economy, often influenced by economic conditions, organizational growth, and industry trends.

Minimum Wage Legislation

Laws established by governments setting the lowest hourly wage that employers can legally pay their workers.

Jurisdictions

Jurisdictions are the official power to make legal decisions and judgments, typically defined by geographic boundaries or specific areas of law.