Presented below are terms preceded by letters a through h and followed by a list of definitions 1 through 8.Enter the letter of the term with the definition,using the space preceding the definition.
(a)Unfavorable variance
(b)Fixed budget performance report
(c)Overhead cost variance
(d)Efficiency variance
(e)Spending variance
(f)Flexible budget performance report
(g)Quantity variance
(h)Favorable variance
(1)Results from a comparison of actual cost or revenue to budget that contributes to a lower income.
(2)A report that compares actual results with the results expected under a fixed budget.
(3)When management pays an amount different from the standard price to acquire an item.
(4)Results from a comparison of actual cost or revenue to budget that contributes to higher income.
(5)Difference in variable overhead when the standard allocation base expected for actual production differs from the actual allocation base.
(6)Difference between actual quantity of an input and the standard quantity of the input.
(7)Difference between the total overhead cost applied to products and the total overhead cost actually incurred.
(8)A report that compares actual performance and budgeted performance based on actual sales volume or other activity level.

Question

Presented below are terms preceded by letters a through h and followed by a list of definitions 1 through 8.Enter the letter of the term with the definition,using the space preceding the definition.
(a)Unfavorable variance
(b)Fixed budget performance report
(c)Overhead cost variance
(d)Efficiency variance
(e)Spending variance
(f)Flexible budget performance report
(g)Quantity variance
(h)Favorable variance
________(1)Results from a comparison of actual cost or revenue to budget that contributes to a lower income.
________(2)A report that compares actual results with the results expected under a fixed budget.
________(3)When management pays an amount different from the standard price to acquire an item.
________(4)Results from a comparison of actual cost or revenue to budget that contributes to higher income.
________(5)Difference in variable overhead when the standard allocation base expected for actual production differs from the actual allocation base.
________(6)Difference between actual quantity of an input and the standard quantity of the input.
________(7)Difference between the total overhead cost applied to products and the total overhead cost actually incurred.
________(8)A report that compares actual performance and budgeted performance based on actual sales volume or other activity level.

ashin namaste · Accepted Answer

Final Answer : 1.A; 2.B; 3.E; 4.H; 5.D; 6.G; 7.C; 8.F

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