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Which of the following statements is true?A volume variance and budget variance are computed for...

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Accounting

Which of the following statements is true?
A volume variance and budget variance are computed for fixed manufacturing overhead costs.
The higher the denominator activity level used to compute the predetermined overhead rate, the higher the predetermined overhead rate.
Multiple Choice
Only statement 1 is true.
Only statement 2 is true.
Both statements are true.
Neither statement is true.

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