Which of the Following Is Not an Example of In-Kind

question 63

Multiple Choice

Which of the following is not an example of in-kind transfer payments?

• A)food stamps
• B)subsidized public housing
• C)subsidized public education
• D)Aid to Families with Dependent Children (AFDC)
• E)Medicaid

---

Definitions:

Variable Overhead

Indirect operating costs that change in proportion to the level of production or business activity.

Total Variable Overhead Variance

The difference between the actual variable overhead incurred and the standard variable overhead allocated for the output achieved.

Standard Costing System

An accounting method that applies estimated costs to product costs for the purposes of budgeting and inventory valuation.

Direct Labour-Hours

The total hours worked by employees directly involved in manufacturing a product.