The Unspoken Rule Dictating That We Should Treat Others as They

question 42

Multiple Choice

The unspoken rule dictating that we should treat others as they have treated us is called the

• A)social impact theory.
• B)norm of reciprocity.
• C)dual-process approach.
• D)equity principle.

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Definitions:

Labor Efficiency Variance

The difference between the actual hours worked and the standard hours expected, multiplied by the standard labor rate.

Direct Materials Purchases Variance

The difference between the actual cost of direct materials purchased and the expected cost of direct materials, based on standard cost.

Standard Direct Labor-Hours

The predetermined amount of labor time estimated or expected to produce a unit of output, used for budgeting and measuring efficiency.

Labor Rate Variance

The difference between the actual cost of labor and the budgeted or standard cost of labor.