If the standard hours allowed for the actual output of the period is greater than the denominator level of activity (in hours), then the overhead volume variance will be favorable.
Answer the following statement true (T) or false (F)
True
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What will be an ideal response?
On July 8, Alton Co issued an $80,000, 6%, 120-day note payable to Seller Co Assume that the fiscal year of Alton Co ends July 31. Using the 360-day year in your calculations, what is the amount of interest expense recognized by Alton in the current fiscal year?
A) $1,200.00 B) $106.67 C) $306.67 D) $400.00
When actual variable cost per unit equals standard variable cost per unit, the difference between actual and budgeted contribution margin is explained by a combination of which two variances?
A. The sales-price variance and fixed-overhead budget variance. B. The sales-price variance and sales-volume variance. C. The sales-volume variance and the fixed-overhead volume variance. D. The sales-price variance and the fixed-overhead volume variance. E. The sales-volume variance and the fixed-overhead budget variance.
Finance is any transaction where money is exchanged for goods and services
Indicate whether the statement is true or false