Match the Following Statements

question 56

Multiple Choice

Match the following statements.
-Form 990-PF.

• A)Exempt from tax on unrelated business.
• B)Inappropriate definition.
• C)Exempt organization may be subject to the tax on unrelated business income.
• D)Annual information return of an exempt organization that is required to file a return and which is not a private foundation.
• E)Appropriate definition.
• F)Annual information return of a private foundation.

---

Definitions:

Standard Cost

A predetermined cost of manufacturing a product or providing a service, under normal conditions, which serves as a benchmark for measuring performance.

Direct Labor Workers

Direct Labor Workers are employees who are directly involved in the production of goods or services, whose wages are considered part of the direct costs of production.

Fixed Overhead

Costs that do not change with the level of production or sales, such as salaries, rent, and insurance, which are necessary for the operation but do not vary with the volume of output.

Direct Labor-Hours

A measure of the labor directly involved in the production of goods, often used in calculating standard costs and variances.