The Market Size Variance Is Favorable When the Budgeted Industry

question 70

Multiple Choice

The market size variance is favorable when the budgeted industry sales in units is:

• A)more than the actual units sold
• B)less than the actual units sold
• C)more than the actual market share percentage
• D)less than the budgeted market share percentage

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Definitions:

Total Tax Collections

The aggregate amount of taxes collected by a government from various sources during a specified period.

Payroll Tax

Obligations imposed on both employers and employees, frequently measured as a segment of the payroll.

Equilibrium Wage Rate

The wage rate at which the quantity of labor demanded equals the quantity of labor supplied in the market.

Payroll Tax

A tax that an employer withholds and pays on behalf of its employees based on the wage or salary of the employee, typically used to fund social security and healthcare programs.