An Ethic of Justice Is Based on a Sense of Responsibility

question 57

True/False

An ethic of justice is based on a sense of responsibility to reduce actual harm or suffering.

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Definitions:

Standard Volume

The amount of volume the plant would have generated if each unit of product manufactured used precisely the standard unit of volume allowed.

Budgeted Volume

The amount of production expected to occur during the year, usually stated in terms of a common input measure such as direct labor hours. Budgeted volume can be estimated as expected volume for next year or normal volume over the long run.

Actual Output

The tangible products or results produced by a company's operations or activities.

Total Overhead Variance

The difference between total actual and applied overhead.