The fixed manufacturing overhead budget variance equals:Multiple ChoiceActual fixed manufacturing overhead cost − Applied fixed manufacturing overhead cost.Actual fixed manufacturing overhead cost − Budgeted fixed manufacturing overhead cost.CorrectBudgeted fixed manufacturing overhead cost − Applied fixed manufacturing overhead cost.IncorrectActual fixed manufacturing overhead cost − (Actual hours × Standard fixed manufacturing overhead rate).

A fixed manufacturing overhead variance caused by the difference between the actual fixed overhead expenditures and the fixed overhead that was budgeted for the period is called:Multiple choice question.a volume variancea spending variancea budget variancean efficiency variance

The difference between actual overhead costs incurred and the budgeted (flexible) total overhead at actual units produced is the:Multiple ChoiceVolume variance.Price variance.Quantity variance.Production variance.Controllable variance.

The overhead variance is the difference between:Multiple choice question.budgeted overhead and standard overhead appliedactual total overhead and the standard overhead budgetedactual total overhead and the standard overhead applied

The controllable variance is the difference between the actual total overhead and:Multiple choice question.applied overhead based on a flexible budgetbudgeted overhead based on the master budgetapplied overhead based on the master budgetbudgeted overhead based on a flexible budget

If the net standard costing variance of a business is considered immaterial to the total production cost, the net variance should be:Multiple choice question.assigned to cost of goods soldallocated between WIP and FG inventories and cost of goods soldignoredtreated as an adjustment to manufacturing overhead