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_____ Refers to Presenting One of Two Equivalent Value Outcomes

question 12

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_____ refers to presenting one of two equivalent value outcomes either in positive or gain terms or in negative or loss terms.


Definitions:

Variable Overhead Rate Variance

The difference between the actual variable overhead incurred and the standard cost allocated for the actual production level.

Variable Manufacturing Overhead

Costs that vary with production volume, such as utilities and materials used in the production process.

Variable Overhead Efficiency Variance

The difference between the actual variable overhead incurred and the expected (standard) overhead based on the efficient use of resources.

Variable Overhead Rate Variance

The difference between the actual variable overhead costs incurred and the expected costs at the standard variable overhead rate.

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