The difference between actual and budgeted fixed factory overhead is referred to as a fixed overhead volume variance.
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Q18: A standard cost card is prepared after
Q19: The formula for usage variance is (AQ
Q20: The formula for price/rate variance is (AP
Q21: Favorable variances are represented by debit balances
Q22: Managers have no ability to control the
Q24: The difference between budgeted and applied fixed
Q25: The difference between actual variable overhead and
Q26: Unfavorable variances are represented by credit balances
Q27: The difference between budgeted variable overhead for
Q28: Unfavorable variances are represented by debit balances
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