What Is the Central Factor Used by the United Nations

question 41

Multiple Choice

What is the central factor used by the United Nations' Development Program to determine the rank of nations?

• A) the gross domestic product of a nation
• B) the infant mortality rate of a nation
• C) the average income of a nation's citizens
• D) the technological status of a nation

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Definitions:

Direct Materials Purchases Variance

The difference between the actual cost of direct materials purchased and the expected (budgeted) cost of these materials.

Standard Direct Labor-Hours

The estimated amount of labor time required to produce one unit of output, based on established standards.

Variable Overhead Rate Variance

The difference between the actual and the standard cost of variable overheads in a production process.

Direct Materials Purchases Variance

The difference between the actual cost of direct materials purchased and the expected (or standard) cost, used for budgeting and cost control purposes.