Use the following terms to complete the sentences that follow; terms may be used once, more than once, or not at all: Static Flexible 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 \begin{tabular}{|c|c|c|c|} \hline 1. A & \multicolumn{3}{|c|}{ budget is based on a fixed estimate of sales volume. } \\ \hline 2. A & \multicolumn{3}{|c|}{ variance represents the difference between actual and expected levels of activity. } \\ \hline 3. The & \multicolumn{3}{|c|}{ is typically responsible for the direct materials quantity variance. } \\ \hline 4. The variable overhead rate variance is & \multicolumn{3}{|c|}{ when the actual variable overhead rate is less than the standard variable overhead rate. } \\ \hline 5. Unfavorable variances appear as & entries; favorable variances appear as & & entries. \\ \hline 6. The & \multicolumn{3}{|c|}{\begin{tabular}{l} variance is the difference between the number of actual direct labor hours used and the number of standard direct labor hours \\ multiplied by the standard variable overhead rate. \end{tabular}} \\ \hline 7. Using less direct materials than expected results in a & & variance. & \\ \hline 8. The & \multicolumn{3}{|c|}{ is typically responsible for the direct labor efficiency variance. } \\ \hline 9. The & \multicolumn{3}{|c|}{ variance is sometimes also called the denominator variance. } \\ \hline 10. When recording journal entries, the actual cost is a & and the standard cost is a & & \\ \hline \end{tabular}