With Respect to Product Categories Analyzed on the Basis of Sales

question 24

Multiple Choice

With respect to product categories analyzed on the basis of sales turnover, a _____ product is one where the product appeals to a small segment of the population (which might grow in time) .

• A)core product
• B)cultural product
• C)niche item
• D)seasonal product
• E)filler product

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Definitions:

Machine-Hours

A measure of production time, calculated by the number of hours machines are operating in the manufacturing process.

Budget Variance

The difference between budgeted figures and actual figures for a particular accounting category.

Volume Variance

The difference between the expected and actual sales volumes, impacting revenue and expenses.

Manufacturing Overhead

All indirect costs associated with manufacturing a product, such as factory maintenance, utilities, and quality control.