FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Which of the following statements about fixed overhead variances is
FALSE?
O The budget variance represents the difference between the original budgeted
fixed overhead cost and the applied fixed overhead cost during a period.
O An unfavorable volume variance means that a firm's production facilities were
under-utilized by producing less units of products than budgeted.
O The volume variance is a measure of facility utilization.
O Fixed overhead variances consist of a budget variance and a volume variance.
Ne:
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Transcribed Image Text:Which of the following statements about fixed overhead variances is FALSE? O The budget variance represents the difference between the original budgeted fixed overhead cost and the applied fixed overhead cost during a period. O An unfavorable volume variance means that a firm's production facilities were under-utilized by producing less units of products than budgeted. O The volume variance is a measure of facility utilization. O Fixed overhead variances consist of a budget variance and a volume variance. Ne: Previous
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