The Number of Days That a Microcomputer Goes Without a Breakdown

question 8

Short Answer

The number of days that a microcomputer goes without a breakdown is an example of a(n)____________________ random variable.

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Definitions:

Materials Quantity Variance

The difference between the actual quantity of materials used in production and the expected amount of materials that should have been used, measured at the standard cost.

Labor Efficiency Variance

The deviation between the actual hours taken to produce a unit of output and the standard hours expected, multiplied by the standard labor rate.

Materials Price Variance

The difference between the actual cost of direct materials and the expected cost at standard prices.

Materials Quantity Variance

The difference between the actual amount of materials used in production and the standard amount expected, multiplied by the standard cost per unit.