I1. Matching Type. Match the definition in the right column with the termis on the left column. 1. Total variable overhead A. The difference between the actual hours worked times the standard wage rate and the actual рayroll. B. An estimate of what will happen. C. The difference between the actual variable overhead incurred and a performance budget for variable overhead. variance 2. Overhead efficiency 3. Variable overhead spending variance 4. Labor efficiency variance D. A measure of how well materials were utilized in the production 5. Labor rate variance 6. Material usage variance process. E. The sum of variable overhead spending variance and the variable overhead efficiency variance. 7. Material price variance 8. Expected actual variance F. What should be achieved if all conditions are perfect. 9. Normal standard G. The difference between actual hours worked and the hours that should have been worked at the 10. Ideal standard level of production, times the standard variable overhead rate. H. The difference between actual hours worked and the hours that should have been worked and at the level of production times the standard wage rate. I. What should be achieved with normal workers in a normal setting. J. The difference between the actual price and the standard price, times the actual quantity of materials purchases.
I1. Matching Type. Match the definition in the right column with the termis on the left column. 1. Total variable overhead A. The difference between the actual hours worked times the standard wage rate and the actual рayroll. B. An estimate of what will happen. C. The difference between the actual variable overhead incurred and a performance budget for variable overhead. variance 2. Overhead efficiency 3. Variable overhead spending variance 4. Labor efficiency variance D. A measure of how well materials were utilized in the production 5. Labor rate variance 6. Material usage variance process. E. The sum of variable overhead spending variance and the variable overhead efficiency variance. 7. Material price variance 8. Expected actual variance F. What should be achieved if all conditions are perfect. 9. Normal standard G. The difference between actual hours worked and the hours that should have been worked at the 10. Ideal standard level of production, times the standard variable overhead rate. H. The difference between actual hours worked and the hours that should have been worked and at the level of production times the standard wage rate. I. What should be achieved with normal workers in a normal setting. J. The difference between the actual price and the standard price, times the actual quantity of materials purchases.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Multiple choices and Matching type
Transcribed Image Text:I1. Matching Type. Match the definition in the right column with the termis on
the left column.
1. Total variable overhead
A. The difference between the
actual hours worked times the
standard wage rate and the actual
рayroll.
B. An estimate of what will happen.
C. The difference between the
actual variable overhead incurred
and a performance budget for
variable overhead.
variance
2. Overhead efficiency
3. Variable overhead spending
variance
4. Labor efficiency variance
D. A measure of how well materials
were utilized in the production
5. Labor rate variance
6. Material usage variance
process.
E. The sum of variable overhead
spending variance and the
variable overhead efficiency
variance.
7. Material price variance
8. Expected actual variance
F. What should be achieved if all
conditions are perfect.
9. Normal standard
G. The difference between actual
hours worked and the hours that
should have been worked at the
10. Ideal standard
level of production, times the
standard variable overhead rate.
H. The difference between actual
hours worked and the hours that
should have been worked and at
the level of production times the
standard wage rate.
I.
What should be achieved with
normal workers in a normal
setting.
J. The difference between the
actual price and the standard
price, times the actual quantity
of materials purchases.
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