What Is a Deviation from the Original Prediction of What

question 14

Multiple Choice

What is a deviation from the original prediction of what would be spent and when?

• A) Fixed cost
• B) Anticipated revenue
• C) Variance
• D) Payback Period

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Definitions:

Standard Costs

Standard costs are predetermined costs of manufacturing a single unit or a number of units of a product during a specific period under assumed conditions.

Kilos

A metric unit of measure for mass, equivalent to one thousand grams or approximately 2.20462 pounds.

Cash Account

An account that records all cash transactions, including cash receipts and cash payments, within a business.

Raw Materials Inventory

The total cost of all raw materials that are yet to be used in the production process.