Which of the Following Is a Benefit of Business in Society

question 27

Multiple Choice

Which of the following is a benefit of business in society?

• A) adding jobs to the community
• B) using unsafe materials in manufacturing
• C) avoiding taxes
• D) offering defective products

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Definitions:

FOH Budget Variance

The difference between the actual factory overhead costs incurred and the overhead costs allocated to production based on budgeted rates.

Fixed Manufacturing Overhead

Costs that do not change with the level of production, including salaries, rent, and insurance.

Labor Efficiency Variance

A discrepancy between the actual working hours and the expected standard hours, multiplied by the predetermined salary rate.

Direct Labor Standards

Direct labor standards are predetermined measures for the amount of labor time and cost that should be associated with producing a unit of product or performing a service.