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5 terms

Ch 11. - Fill in the Blank

STUDY
PLAY
A(n) __________ occurs when actual expenses exceed budgeted expenses.
unfavorable expense variance
Flexible-budget variances are the variances between the __________ and __________ .
flexible budget; actual results
The fewer inputs used to create outputs, the more the business activity becomes __________
efficient
Standard cost systems value products based on __________
standard costs.
The __________ variance is the difference between the actual variable overhead and the amount of variable overhead budgeted for the actual level of cost-driver activity (for example, direct-labor hours).
variable-overhead spending