Use the Table Below to Answer the Following Question

question 110

Multiple Choice

Use the table below to answer the following question.
Table 2.1.4
Consider the following production possibilities for a student for the typical week:
-Refer to Table 2.1.4.Complete the following sentence.The production possibilities frontier in the table shows

• A)increasing opportunity cost.
• B)learning-by-doing.
• C)constant opportunity cost.
• D)under-utilization of resources.
• E)decreasing opportunity cost.

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Definitions:

Variable Factory Overhead

Refers to the indirect, variable costs that change with the level of production output, such as utilities for the manufacturing plant.

Controllable Variance

The difference between the actual variable overhead costs and the budgeted variable overhead for actual production.

Direct Materials Quantity Variance

The difference between the actual quantity and the standard quantity of direct materials used in producing a product multiplied by the standard direct material price.

Units

A measure of quantity used to express the amount of a product, service, or resource used or produced in a transaction.