Which of These Would Not Be Considered Corporate Crime

question 25

Multiple Choice

Which of these would not be considered corporate crime?

• A) price fixing
• B) tax evasion
• C) copyright infringement
• D) loan sharking

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Definitions:

Materials Price Variance

This measures the difference between the actual cost of materials used in production and the standard cost expected for those materials, indicating how efficiently an organization is purchasing materials.

Labor Rate Variance

The difference between the actual cost of direct labor and the expected (or standard) cost, calculated as (Actual rate - Standard rate) x Actual hours.

Standard Hourly Rate

The predetermined cost per hour for labor, used in budgeting and costing to assign labor costs to products and services.

Standard Quantity

The budgeted or pre-determined amount of material or input expected to be used during a manufacturing process.