-Suppose the Production Possibilities for Two Countries,producing Either Food or Clothing,are

question 20

Multiple Choice

-Suppose the production possibilities for two countries,producing either food or clothing,are shown in the above figure.They can each produce any linear combination as well.Measuring food on the horizontal axis,the joint production possibility frontier

• A) will have a slope of -3/4 over the entire frontier.
• B) will have a slope of -2 when less than 20 units of food are produced.
• C) will have a slope of -1 when less than 20 units of food are produced.
• D) will have a slope of -1/2 when less than 20 units of food are produced.

Understand the concept and calculation of variable overhead rate and efficiency variances.

Understand the concept and calculation of materials quantity variance.

Understand the concept and calculation of raw materials price variance.

Understand how to classify variances as favorable or unfavorable.

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