
Concept explainers
1
Predetermined
Introduction: Variance means the difference in value which comes when actual figure and estimated or budgeted figure are compared. It is helpful in finding out the cause of difference that arises between figures and formulates the corrective measure, which helps to reduce all those difficulties.
2
Amount of the overhead that would be applied to the output of the period.
Introduction: Variance means the difference in value which comes when actual figure and estimated or budgeted figure are compared. It is helpful in finding out the cause of difference that arises between figures and formulates the corrective measure, which helps to reduce all those difficulties.

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Chapter 10A Solutions
Loose Leaf For Managerial Accounting for Managers
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