Colin and Erin Are Waiting to Meet with Their Caterer

question 4

Multiple Choice

Colin and Erin are waiting to meet with their caterer so that they can discuss the menu for their wedding.The caterer is 30 minutes late and still hasn't arrived.Colin suggests that the caterer is probably delayed because of traffic.Erin suggests that the caterer is probably disorganized and unreliable.What kind of attribution is Colin making?

• A) a dispositional attribution
• B) a situational attribution
• C) a personal attribution
• D) a correspondent attribution

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Definitions:

Variable Costing

An accounting method that includes only variable production costs (direct labor, direct materials, and variable overhead) in product costs, excluding fixed overhead costs.

Absorption Costing

A ledger keeping approach in accounting that wraps all costs connected to manufacturing—expenses for direct materials, wages for direct labor, and all types of manufacturing overhead, fixed and adjustable—into a product's total cost.

Contribution Format

An income statement format that separates fixed costs from variable costs to highlight the contribution margin.

Variable Costing

An accounting method that includes only variable production costs in product costs and treats fixed production costs as period costs.