A Criminal Act That Is Punishable by Death or by Imprisonment

question 63

Short Answer

A criminal act that is punishable by death or by imprisonment in a state or federal prison for more than 1 year is a(n) ________.

---

Definitions:

Material Costing

The process of determining the cost of materials used in the production of goods, including direct materials and allocable portions of indirect materials.

Standard Materials Cost

The pre-determined cost of materials that is expected to be incurred under normal conditions.

Price Variance

The difference between the actual cost of a good or service and its expected cost, often used in budgeting and financial analysis.

Materials Price Variance

The difference between the actual cost of direct materials and the standard cost, used in variance analysis.