What is FIXED PRODUCTION OVERHEAD VOLUME EFFICIENCY VARIANCE?

The difference between hours worked to produce and the budgeted hours for that production. It is multiplied by an overhead rate. A favorable figure would be one that is covered by the overhead. It uses the rate per hour and the hours to get the final figu

More On This Topic



Link to This Definition
Did you find this definition of FIXED PRODUCTION OVERHEAD VOLUME EFFICIENCY VARIANCE helpful? You can share it by copying the code below and adding it to your blog or web page.
Written and fact checked by The Law Dictionary