Michael Is an Aboriginal Native Living on a Canadian Native

question 4

Multiple Choice

Michael is an aboriginal native living on a Canadian Native Indian Reservation. Which of the following is true?

• A) Michael has the same capacity to contract as other Canadians.
• B) Michael's legal position to sell produce would not vary by province.
• C) If Michael moves off the reservation, his capacity to contract would not change.
• D) Michael may manufacture and sell goods to outsiders.
• E) Michael can use Native Indian land as security for a loan.

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Definitions:

Variable Manufacturing Overhead

Costs of manufacturing that vary with the level of production output, such as utilities and some wages.

Materials Price Variance

The variance between the real expense of materials and their anticipated (or standard) cost.

Direct Labor-hours

The total hours worked by employees directly involved in the production process, used as a basis for allocating labor costs to products or job orders.

Variable Overhead Efficiency Variance

The difference between the expected (standard) and actual variable overhead costs based on the actual level of an activity.