fixed overhead

fixed overhead volume variance — overhead volume variance; = volume variance In a standard costing system, the difference arising between the actual production in units and the budgeted production, valued at the standard fixed overhead absorption rate per unit. It measures the… …   Accounting dictionary

fixed overhead expenditure variance — In a system of standard costing, the difference arising between the fixed overhead budgeted and the fixed overhead incurred. See: overhead expenditure variance …   Accounting dictionary

fixed overhead total variance — In a system of standard costing, the total difference arising between the standard fixed overhead absorbed for the actual units produced and the actual fixed overhead expenditure incurred. See: overhead total variance …   Accounting dictionary

fixed overhead efficiency variance — In a system of standard costing, the difference arising between the actual labour hours worked and the standard time allowed for the quantity actually produced, valued at the standard fixed overhead absorption rate per hour. See: overhead… …   Accounting dictionary

fixed overhead capacity variance — capacity usage variance; = idle capacity variance In a system of standard costing, the difference arising between the actual hours worked and the budgeted capacity available, valued at the standard fixed overhead absorption rate per hour. It can… …   Accounting dictionary

fixed overhead absorption rate — The budgeted fixed overheads divided by the budgeted standard hours, budgeted production in units, or other budgeted production measure. See: absorption rate …   Accounting dictionary

fixed overhead cost — The elements of the indirect costs of an organization s product that, in total, remain unchanged irrespective of changes in the levels of production or sales. Examples include administrative salaries, sales personnel salaries, and factory rent …   Accounting dictionary

fixed overhead cost — The elements of the indirect costs of an organization s product that, in total, remain unchanged irrespective of changes in the levels of production or sales. Examples include administrative salaries, sales personnel salaries, and rent …   Big dictionary of business and management

standard fixed overhead cost — In standard costing, a standard cost derived from the standard time allowed for the performance of an operation or the production of a product and the standard fixed overhead absorption rate per unit of time for that operation or product …   Accounting dictionary

standard fixed overhead cost — In standard costing, a standard cost derived from the standard time allowed for the performance of an operation or the production of a product and the standard fixed overhead absorption rate per unit of time for that operation or product …   Big dictionary of business and management

overhead efficiency variance — overhead productivity variance; = productivity variance In a standard costing system, that part of the overhead total variance that arises from the more or less efficient use of the time available to carry out the actual production. It compares… …   Accounting dictionary