Which of the Following Weighs About a Pound on Earth

question 14

Multiple Choice

Which of the following weighs about a pound on Earth?

• A)0.05 kg
• B)0.5 kg
• C)5 kg
• D)50 kg
• E)500 kg

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Definitions:

Variable Overhead Efficiency Variance

The difference between the actual variable overhead incurred and the standard cost allocated, based on the actual production volume.

Materials Quantity Variance

A financial measure that captures the difference between the actual amount of materials used in production and the standard amount expected, multiplied by the standard cost of those materials.

Variable Overhead Rate Variance

The difference between the actual overhead rate incurred and the standard overhead rate that was expected, multiplied by the actual hours worked.

Direct Labor-Hours

The total hours worked by employees directly involved in the production process, used as a basis for allocating manufacturing overhead.