Josmar Farms, Sells Their Products Directly at Their Storefront, at a Local

question 114

Multiple Choice

Josmar Farms, sells their products directly at their storefront, at a local farmers market, through a local convenience store, and through an online storefront using Facebook. They are referred to as a(n) :

• A)multi-tailers
• B)multi-retailers.
• C)poly-retailers.
• D)multichannel retailers.

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Definitions:

Direct Materials Quantity Variance

The difference between the actual quantity of materials used in production and the standard quantity expected, multiplied by the standard cost per unit.

Standard Quantity

The predetermined amount of materials or inputs planned to be used in a manufacturing process or task.

Standard Price

A predetermined cost that companies assign to goods and services, used as a benchmark to measure the actual cost performance.

Standard Cost

A predetermined cost of manufacturing a product or providing a service, used for budgeting and performance evaluation.