The difference between actual overhead costs incurred and the budgeted overhead costs based on a flexible budget is the:

Production variance.

Quantity variance.

Volume variance.

Price variance.

Controllable variance.

The difference between actual price per unit of input and the standard price per unit of input results in a:

Standard variance.

Quantity variance.

Volume variance.

Controllable variance.

Price variance.

The difference between actual quantity of input used and the standard quantity of input used results in a:

Controllable variance.

Standard variance.

Budget variance.

Quantity variance.

Price variance.

The difference between the actual cost incurred and the standard cost is called the:

Flexible variance.

Price variance.

Cost variance.

Controllable variance.

Volume variance.

The following company information is available for March. The direct materials price variance is:

Direct materials purchased and used	2,500 feet @ $55 per foot
Standard costs for direct materials for March production	2,600 feet @ $53 per foot

$5,000 favorable.

$300 favorable.

$5,200 unfavorable.

$5,000 unfavorable.

$5,200 favorable.

When there is a difference between the actual volume of production and the standard volume of production, which of the following, based solely on fixed overhead, occurs?

Production variance.

Volume variance.

Overhead cost variance.

Quantity variance.

Controllable variance.