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Which of the following statements about variable overhead costs is true? Multiple Choice ...

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Accounting

Which of the following statements about variable overhead costs is true?

Multiple Choice

  • The underlying model for control and product-costing purposes is the same for variable overhead.

  • The amount of variable overhead applied to production is a function of the denominator output volume and the actual quantity of the cost-allocation base (cost driver) used to apply overhead.

  • The total variable overhead cost variance can be decomposed into a production-volume variance and a flexible-budget variance.

  • For control purposes, the actual quantity of the cost-allocation base (cost driver) is used.

  • Standard costs for variable overhead can be used for control, but not product-costing, purposes.

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