Which of the following statements about variable overhead costs is true? Multiple Choice ...
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Accounting
Which of the following statements about variable overhead costs is true?
Multiple Choice
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The underlying model for control and product-costing purposes is the same for variable overhead.
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The amount of variable overhead applied to production is a function of the denominator output volume and the actual quantity of the cost-allocation base (cost driver) used to apply overhead.
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The total variable overhead cost variance can be decomposed into a production-volume variance and a flexible-budget variance.
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For control purposes, the actual quantity of the cost-allocation base (cost driver) is used.
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Standard costs for variable overhead can be used for control, but not product-costing, purposes.
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