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What is production volume variance in cost accounting?

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What is production volume variance in cost accounting?
posted Jun 21, 2017 by Mukul Chag

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The production volume variance is associated with a standard costing system used by some manufacturers. This variance indicates the difference between:
1) the company’s budgeted amount of fixed manufacturing overhead costs
2) the amount of the fixed manufacturing overhead costs that were assigned to (or absorbed by) the company’s production output.

answer Jun 22, 2017 by Vijay
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