W 8: Chapter 21 Help Save & Exit Submit Presented below are definitions of certain terms. Select the appropriate term from the dropdown list. points References The difference between actual and budgeted sales or cost caused by the difference between the actual price per unit and the budgeted price per unit A planning budget based on a single predicted amount of sales or production volume: unsuitable for evaluations the actual volume differs from the predicted volume Preset costs for delivering a product Component or service under normal conditions A process of examining the deferences between actual and budgeted sales 4. Or costs and describing them in terms of the amounts that resulted from price and quantity differences The difference between the total budgeted overhead cost and the overhead 5 cost that was allocated to products using the predetermined fed overhead rate A budget prepared based on predicted amounts of revenues and expenses corresponding to the actualevel of output The difference between actual and budgeted cost caused by the oference between the actual quantity and the budgeted quantity The combination of both overhead spending variances variable and fixed and the variable overhead efficiency v e Amanagement process to focus on significant variances and give less attention to areas where performance is close to the standard The ference between actual cost and standard cost made up of a price Vorance and a quantity wanance