Fixed Overhead Volume Variance is a metric used in standard costing systems to quantify the difference between actual and budgeted production levels, valued at the standard fixed overhead absorption rate per unit. It measures the over- or under-recovery of fixed overheads due to the variance in actual activity levels from what was budgeted.
Overhead Volume Variance is a budgetary metric used in cost accounting to measure the difference between the budgeted and actual fixed overhead allocated based on the actual volume of production.
