Variable Overhead Spending Variance — The difference between actual variable overhead based on costs for indirect material involved in manufacturing, and standard variable overhead based on the budgeted costs. Variable overhead spending variance arises from difference in the costs of … Investment dictionary
Variable Overhead Efficiency Variance — The difference between actual variable overhead based on the true time taken to manufacture a product, and standard variable overhead based on the time budgeted for it. It arises from variance in productive efficiency. For example, the number of… … Investment dictionary
variable overhead expenditure variance — In a system of standard costing, the difference arising between the variable overhead budgeted and the variable overhead incurred. See: overhead expenditure variance … Accounting dictionary
variable overhead total variance — In a system of standard costing, the total difference arising between the standard variable overhead absorbed for the actual units produced and the actual variable overhead expenditure incurred. See: overhead total variance … Accounting dictionary
variable overhead efficiency variance — In a system of standard costing, the difference arising between the actual labour hours worked and the standard time allowed for the quantity actually produced, valued at the standard variable overhead absorption rate per hour. See: overhead… … Accounting dictionary
standard variable overhead cost — A standard cost derived from the standard time allowed for the performance of an operation or the production of a product and the standard variable overhead absorption rate per unit of time for that operation or product … Accounting dictionary
standard variable overhead cost — A standard cost derived from the standard time allowed for the performance of an operation or the production of a product and the standard variable overhead absorption rate per unit of time for that operation or product … Big dictionary of business and management
variable overhead cost — The elements of an organization s indirect costs for a product that vary in total in proportion to changes in the levels of production or sales. Examples can include power, commission earned by sales personnel, and consumable materials … Accounting dictionary
variable overhead cost — The elements of an organization s indirect costs for a product that vary in total in proportion to changes in the levels of production or sales. Examples can include power, commission earned by sales personnel, and consumable materials … Big dictionary of business and management
overhead efficiency variance — overhead productivity variance; = productivity variance In a standard costing system, that part of the overhead total variance that arises from the more or less efficient use of the time available to carry out the actual production. It compares… … Accounting dictionary
