In Which of the Following Is a Person Performing the Role

question 76

Multiple Choice

In which of the following is a person performing the role of an approver?

• A)Dan decides on the product requirements and makes the final choice of suppliers.
• B)Leo has the authority to pick out the supplier and negotiate the terms of purchase.
• C)Liam heads the Tech team at LKG and provides information for evaluating the possible alternatives.
• D)LKG gets many calls from potential suppliers,and it is Leah's job to weed out the good prospects and refer them to others in LKG.
• E)Dana authorizes the actions of the deciders and buyers in LKG.

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Definitions:

Materials Price Variance

The difference between the actual cost of materials used in production and the expected (or standard) cost, reflecting changes in material prices.

Raw Materials Purchases

The total cost incurred from buying raw materials that are to be used in the production process.

Standard Costs

The predetermined costs of manufacturing a single unit or a number of product units during a specific period under current or anticipated operating conditions.

Gallons

A volume measurement primarily utilized in the United States for quantifying liquid substances.