Question Details

An unfavorable variance is recorded 



1. An overhead cost variance is the difference between the actual overhead incurred for the period and the
standard overhead applied.
True False
2. A volume variance is the difference between overhead at maximum production volume and that at the
budgeted production volume.
True False
3. An unfavorable variance is recorded with a debit.
True False
4. If cost variances are material, they should always be closed directly to Cost of Goods Sold.
True False



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