Use the following terms to complete the sentences that follow; terms may be used once, more than once, or not at all: Static Plexible Volume Spending Production manager Variable overhead rate Variable overhead efficiency Fixed overhead spending Purchasing manager Favorable Unfavorable Debit Credit Fixed overhead budget Fixed overhead volume 2. 5 1. A budget is based on a fixed estimate of sales volume. variance represents the difference between actual and expected levels c 3. The is typically responsible for the direct materials quantity variance. 4. The variable overhead rate variance is when the actual variable overhead rate is variable overhead rate. 5. Unfavorable variances appear as entries; favorable variances appear as 6. The variance is the difference between the number of actual direct labor hour standard direct labor hours multiplied by the standard variable overhead 7. Using less direct materials than expected results in a variance 8. The is typically responsible for the direct labor efficiency variance. 9. The variance is sometimes also called the denominator variance. 10. When recording journal entries, the actual cost is a and the standard cost is a