On a Typical Chart of Accounts, the Accounts Are Arranged

question 33

True/False

On a typical chart of accounts, the accounts are arranged in the same order as they appear in the trial balance.

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Definitions:

Variable Overhead Rate Variance

The difference between the actual variable overhead incurred and the expected (or standard) variable overhead based on a standard rate.

Variable Manufacturing Overhead

Costs that vary with the level of production output, such as utilities or raw materials.

Direct Labor-hours

The total time workers spend working directly on manufacturing goods, often used as a basis for allocating manufacturing overhead.

Variable Overhead Rate Variance

The difference between the actual variable overhead incurred and the expected (standard) variable overhead based on the actual production level.