Volume Variance Definition:

The variance that arises whenever the standard hours allowed for the output of a period are different from the denominator activity level that was used to compute the predetermined overhead rate.

Other Related Accounting Articles:

• Variable Overhead Efficiency Variance Definition
• Denominator Activity definition
• Direct Labor Efficiency Variance
• Labor Efficiency Variance Definition
• Standard Hours Allowed Definition
• Direct Material Usage Variance
• Labor Rate Variance Definition
• Direct Labor Idle Time Variance
• What is Sales Volume Variance?
• Labor Rate Variance