Kathleen Corp

question 29

Multiple Choice

Kathleen Corp. produced 320000 units in 150000 direct labor hours. Production for the period was estimated at 330000 units and 165000 direct labor hours. A flexible budget would compare budgeted costs and actual costs respectively at

• A) 160000 hours and 165000 hours.
• B) 165000 hours and 150000 hours.
• C) 160000 hours and 150000 hours.
• D) 150000 hours and 150000 hours.

---

Definitions:

Conditional Sale Agreement

A contract for the sale of goods where the purchase price is paid in installments and the seller retains ownership of the goods until full payment is received.

Security

Measures or instruments (financial or physical) aimed at protecting assets, investments, or territories against loss, damage, or theft.

Provincial Personal Property

Assets and items of personal property as defined and regulated by provincial law in Canada.

Security Interest

Security interest is a legal claim on assets which are offered by a borrower to a lender as collateral for a loan or obligation.