The Availability of Low-Cost Technology Coupled with the Capabilities of Foreign

question 15

Multiple Choice

The availability of low-cost technology coupled with the capabilities of foreign distributors has led to substantial:

• A) Increases in exports by small U.S. manufacturers.
• B) Decreases in exports by small U.S. manufacturers.
• C) Disadvantages for large scale U.S. manufacturers seeking to export.
• D) Declines in the number of small U.S. firms seeking to export.
• E) Decreases in costs.

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Definitions:

Standard Rate

The predetermined cost or price utilized in budgeting and costing exercises, aimed at simplifying accounting practices or performance evaluations.

Direct Labor Hours

The total hours worked by employees directly involved in the production of goods or services.

Total Materials Variance

The difference between the standard cost of materials supposed to be used for the products and the actual cost of materials used.

Price Standard

A predetermined cost that companies use to measure the variance between the expected and actual cost.