Indicate whether each of the following statements is true or false.A company's variable overhead cost represents such inputs as rent and depreciation. ______The variable overhead cost pool is normally assigned to products using many different allocation rates. ______Variable overhead and fixed overhead variances are calculated using the same basic formulas. ______Many companies choose not to calculate price and usage variances for variable overhead costs. ______
What will be an ideal response?
A company's variable overhead cost represents such inputs as rent and depreciation. F
The variable overhead cost pool is normally assigned to products using many different allocation rates. F
Variable overhead and fixed overhead variances are calculated using the same basic formulas. F
Many companies choose not to calculate price and usage variances for variable overhead costs. T
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