Which of the Following Statements About Toyota Is False

question 71

Multiple Choice

Which of the following statements about Toyota is false?

• A)Toyota has minority ownership of suppliers.
• B)Toyota avoids bureaucratic costs of ownership of suppliers.
• C)Toyota owns and manages its suppliers.
• D)Toyota avoids the problem of uncertainty with suppliers.

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Definitions:

Labor Rate Variance

The difference between the actual cost of labor and the budgeted cost of labor, based on the standard rate and actual hours worked.

Variable Overhead Rate Variance

The difference between the actual variable overhead costs incurred and the expected costs based on the standard variable overhead rate.

Materials Quantity Variance

The deviation between the realized quantity of materials consumed in production and the forecasted quantity, multiplied by the set cost per unit.

March

The third month of the year in the Gregorian calendar, known for marking the change from winter to spring in the Northern Hemisphere.