INSTRUCTIONS: Choose the Word or Phrase in [ ] Which

question 166

Multiple Choice

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement.
-Asset allocation is another term for [selecting the stocks you want to buy | deciding what percentage of your investment you want in stocks].

• A)for the first item
• B)for the second item
• C)if neither item will correctly complete the statement.

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Definitions:

Variable Overhead

Costs that vary with the level of production output, such as utilities and commissions.

Materials Price Variance

The difference between the actual cost of materials and the standard cost, multiplied by the actual quantity of materials used.

Variable Manufacturing Overhead

This refers to the manufacturing overhead costs that vary with the level of production, such as utilities or indirect materials.

Materials Price Variance

The variance between the standard cost and the actual expense of materials, factored by the number of materials acquired.