|OVERHEAD VARIANCE is The DIFFERENCE between the Actual Overhead Incurred and the amount of overhead absorbed to production through the use of a standard overhead rate.
– For the VARIABLE overhead, the standard rate is computed by taking the budgeted variable overhead of the period divided by the budgeted volume for the period.
– For the FIXED overhead, the standard rate is computed by taking the budgeted fixed overhead of the period divided by the budgeted volume for the period.
September 23rd, 2007 Comments off
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