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The manufacturing overhead variance that is a measure of capacity utilization is:A) The overhead spending variance.
B) The overhead efficiency variance.
C) The overhead budget variance.
D) The overhead volume variance.
The volume variance is nonzero whenever:A) Standard hours allowed for the output of a period differ from the denominator level of activity.
B) Actual hours differ from the denominator level of activity.
C) Standard hours allowed for the output of a period differ from the actual hours during the period.
D) Actual fixed overhead costs incurred during a period differ from budgeted fixed overhead costs as contained in the flexible budget.
A volume variance is computed for:A) Both variable and fixed overhead.
B) Variable overhead only.
C) Fixed overhead only.
D) Direct labor costs as well as overhead costs.