A Program or Policy Is Efficient If

question 28

Multiple Choice

A program or policy is efficient if

• A) it provides a maximum of net benefits for society.
• B) it distributes benefit equally among society's members.
• C) it maximizes the net income to society.
• D) all of the above.

---

Definitions:

Actual Overhead

Actual overhead refers to the real costs incurred for overhead expenses, such as utilities, rent, and administrative costs, during a given period.

Direct Materials Price

The cost per unit of raw materials that are directly traceable to the production of goods.

Direct Labor Rate Variances

The difference between the actual cost of direct labor and the expected (or standard) cost, used in variance analysis to monitor labor costs.

Budgeted Standards

Budgeted standards represent targeted financial goals or benchmarks that a company aims to achieve within a certain period, often used in performance assessment and planning.