Which of the Following Statements Best Describes How Psychology Is

question 52

Multiple Choice

Which of the following statements best describes how psychology is useful?

• A) Much of psychology is just common sense.
• B) Much of psychology is about applying common sense to everyday life.
• C) Psychological principles are highly applicable to everyday life.
• D) Psychological principles are too scientific to apply to everyday life.

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Definitions:

Direct Labor Rate Variance

This refers to the difference between the actual cost of labor and the expected (or standard) cost of labor used in producing goods.

Direct Labor

The cost of wages for workers who are directly involved in the production of goods or the delivery of services.

Variable Overhead Efficiency Variance

The difference between the standard cost of variable overheads allocated for actual production and the actual variable overheads incurred, used to assess efficiency in controlling variable overhead costs.

Fixed Overhead Spending Variance

The difference between the actual fixed overhead costs incurred and the budgeted or standard fixed overhead costs.