= Homework: Chapter 11 Homework Question 1, S11-16 (boo... HW Score: 0%, 0 of 6 points O Points: 0 of 1 O Save Match the definition on the left with the term on the right. Definition Term a. Measures the difference between the actual fixed MOH costs incurred and the budgeted fixed MOH costs b. Tells managers how much of the total variance is due to using a 1. Direct labor rate variance greater or lesser amount of time being worked than anticipated c. Tells managers how much of the total variance is due to paying a 2. Fixed overhead budget variance different price than expected for direct materials d. Tells managers how much of the total variable MOH variance is 3. Standard cost due to using more or less hours of the allocation base than anticipated for the actual volume of output 4. Variable overhead efficiency variance e. Measures the difference between the budgeted fixed MOH costs and the standard allocated fixed MOH costs f. Tells managers how much of the total variance is due to paying a 5. Direct materials quantity variance different hourly wage rate than anticipated 6. Direct labor efficiency variance g. Also known as attainable standards h. Also called the variable overhead spending variance 7. Variable overhead rate variance i. Tells managers how much of the total variance is due to using a different quantity of direct materials than expected 8. Practical standards j. Standards based on conditions that do not allow for any waste in the production process 9. Ideal standards k. The budgeted cost for a single unit of product 10. Direct materials price variance Video Etext pages Get more help 11. Fixed overhead volume variance Clear all Check