Which of the Following Variances Is Generally the Least Significant

question 3

Multiple Choice

Which of the following variances is generally the least significant from the standpoint of cost control?

• A)Materials price variance.
• B)Labor efficiency variance.
• C)Fixed manufacturing overhead volume variance.
• D)Variable overhead rate variance.

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Definitions:

Ethical Principles

The fundamental guidelines that dictate behavior and actions within a society or profession, often emphasizing fairness, respect, and integrity.

Morally Correct Decisions

Choices made based on ethical principles and values that aim to do good and avoid harm to others.

Inborn Knowledge

The idea that certain understandings or abilities are present in individuals from birth, not acquired through experience.

Evolutionary Psychology

A branch of psychology that seeks to explain humans' mental and psychological traits as a result of evolutionary adaptations.