The Particular Way Materials Move Will Depend Upon

question 11

Multiple Choice

The particular way materials move will depend upon:

• A) the channels of distribution the firm is using
• B) types of markets served
• C) characteristics of the product
• D) all of the above
• E) none of the above.

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Definitions:

Standard Costs

Pre-determined or benchmark costs for products, operations, or activities, used for budgeting purposes and performance evaluation against actual costs.

Direct Labor Time Variance

The difference between the actual time taken to perform work and the estimated standard time, adjusted for units produced.

Standard Costs

Predetermined costs to manufacture a product or deliver a service, used for budgeting and performance evaluation.

Direct Materials Price Variance

The difference between the actual cost of direct materials used in production and the expected (or standard) cost.