DrSmith Is Conducting a Research Study in Her Class for Course

question 56

Multiple Choice

Dr.Smith is conducting a research study in her class for course credit.What must Dr.Smith offer the students in her class should they choose not to participate?

• A)an ultimatum.
• B)an alternative activity.
• C)another study.
• D)an incentive for their time.

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Definitions:

Variable Overhead Rate

The cost of indirect manufacturing expenses that fluctuate with production volume, calculated per unit of activity or base.

Efficiency Variance

A measure used in cost accounting to determine the difference between the actual cost of producing an item and the standard cost, based on the actual hours worked.

Budget Variance

The difference between budgeted figures for revenue or expenses and actual figures.

Fixed Overhead Budget

The fixed overhead budget is a financial plan that estimates the fixed costs associated with production, which do not vary with the level of output.