133.Indicate whether each of the following statements is true or false.A company's variable overhead cost represents such inputs as rent and depreciation.The variable overhead cost pool is normally...

133.Indicate whether each of the following statements is true or false.


A company's variable overhead cost represents such inputs as rent and depreciation.
The variable overhead cost pool is normally assigned to products using many different allocation rates.
Variable overhead and fixed overhead variances are calculated using the same basic formulas.
Many companies choose not to calculate price and usage variances for variable overhead costs.

134.Indicate whether each of the following statements is true or false.


The difference between the actual fixed costs and budgeted fixed costs is the spending variance.
For fixed costs, there is no flexible budget variance.
Companies generally do not calculate a volume variance for fixed overhead costs.
The volume variance is the difference between budgeted fixed cost and the applied fixed cost for the period.
If the amount of fixed overhead applied to production is greater than the budgeted fixed overhead, the result is an unfavorable overhead volume variance.