Assuming That the Standard Fixed Overhead Rate Is Based on Full

question 138

Multiple Choice

Assuming that the standard fixed overhead rate is based on full capacity, the cost of available but unused productive capacity is indicated by the:

• A) factory overhead cost volume variance
• B) direct labor cost time variance
• C) direct labor cost rate variance
• D) factory overhead cost controllable variance

Describe the roles of the autonomic nervous system and its divisions.

Identify and describe the functions of different types of neurons.

Understand the endocrine system, particularly the role of hormones and the glands that produce them.

Discuss the mechanisms of neural communication, including the role of neurotransmitters.

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Definitions:

Variable Overhead Rate Variance

The difference between the actual variable overhead rate incurred and the expected (or standard) rate, multiplied by the actual activity level.

Variable Overhead Rate Variance

A measure used in managerial accounting to compare the actual variable overhead incurred to the expected overhead cost based on the standard cost system.

Indirect Labor

Labor costs related to tasks that support the production environment but are not directly involved in creating the final product.

Variable Overhead Efficiency Variance

A measure used in managerial accounting to assess the efficiency of variable overhead costs incurred relative to the expected amount of those costs.