Author Question: Match the following terms to the appropriate statement by placing the letter to the left of each ... (Read 50 times)

bubba123 · **on:** Feb 5, 2023

Match the following terms to the appropriate statement by placing the letter to the left of each statement.

a.

Direct labor efficiency variance

f.

Sales price variance

b.

Direct labor rate variance

g.

Sales volume variance

c.

Direct material quantity variance

h.

Static budget variance

d.

Fixed overhead spending variance

i.

Variable overhead efficiency variance

e.

Flexible budget variance

j.

Variable overhead spending variance

______

1

.The difference between actual results and budgeted results.

______

2

.Caused by using more or less material than the standard quantity allowed for

actual production.

______

3

.The difference between the actual cost of variable overhead items

and the amount of variable overhead that is expected to be incurred

at the actual level of activity.

______

4

.Result of the difference between the actual sales price and the

budgeted sales price.

______

5

.The difference between actual fixed overhead cost and budgeted

fixed overhead costs.

______

6

.The difference between the actual results and the flexible budget.

______

7

.Arises when the actual wage rate differs from the standard wage rate.

______

8

.Captures the effect of efficient use of the activity base on the cost of

variable overhead.

______

9

.Caused by using more or less direct labor than the standard allowed.

______

10.

Difference between the flexible budget and the static budget.

Rcfelber · **Reply #1 on:** Feb 5, 2023

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