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variable manufacturing overhead efficiency variance

(Dictionary)

Author:
Harold Averkamp, CPA, MBA

Definition

A variance arising in a standard costing system that indicates the difference between the standard amount of variable manufacturing overhead for the good units produced (standard hours times standard rate) and the variable manufacturing overhead based on actual activity (actual direct labor hours or actual machine hours times standard rate). To learn more, see Explanation of Standard Costing.

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About the Author

Harold Averkamp

For the past 52 years, Harold Averkamp (CPA, MBA) has
worked as an accounting supervisor, manager, consultant, university instructor, and innovator in teaching accounting online. He is the sole author of all the materials on AccountingCoach.com.

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