Define: Variable Overhead Efficiency Variance

UK Accounting Glossary

Definition: Variable Overhead Efficiency Variance



What is the dictionary definition of Variable Overhead Efficiency Variance?

Dictionary Definition


In a system of standard costing, the Variable Overhead Efficiency Variance is the difference arising between the actual labour hours worked and the standard time allowed for the quantity actually produced; this is valued at the standard variable overhead absorption rate per hour.


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Variable Overhead Efficiency Variance. PayrollHeaven.com. Retrieved February 22, 2020, from PayrollHeaven.com website: https://payrollheaven.com/define/variable-overhead-efficiency-variance/

Definition Sources


Definitions for Variable Overhead Efficiency Variance are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • BusinessDictionary.com
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 5th May 2019.