____________________________ Often Have Deductibles, Which Is an Amount That the Insurance

question 45

Multiple Choice

____________________________ often have deductibles, which is an amount that the insurance policyholders must pay out of their own pocket ____________________ .

• A) Pension insurance plans; before the insurance coverage kicks in
• B) Workman's Compensation; before they are eligible for coverage
• C) Insurance companies; before the insurer pays its portion of the claim
• D) Retirement insurance policies; according to government laws

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Definitions:

Materials Price Variance

The difference between the actual cost of materials and the standard cost multiplied by the quantities purchased.

Materials Quantity Variance

The difference between the actual quantity of materials used in production and the expected quantity, based on the standard cost.

Materials Quantity Variance

The discrepancy between the actual use of materials in production and the planned use, each multiplied by the predetermined cost per unit.

Variable Overhead

Indirect manufacturing costs that vary with the level of production activity, such as utilities for the manufacturing plant.