Accounting Dictionary - Letter V

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
Variable overhead spending variance
is the difference between the total actual variable overhead costs (for the actual level of output) and the total expected (i.e., standard) variable overhead costs for that (i.e., actual) level of output. Variable overhead spending variance can be determined as the difference between the actual allocation base times the actual overhead rate, on one side, and the actual allocation base times the standard overhead rate, on the other side.
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