In the Late 1980s, CDs Began Replacing Both Vinyl Records

question 58

Multiple Choice

In the late 1980s, CDs began replacing both vinyl records and audio cassettes as the medium of choice for recorded music. This would be viewed as a:

• A) market modification.
• B) discontinuous innovation.
• C) dynamically continuous innovation.
• D) continuous innovation.

---

Definitions:

Standard Costing

A cost accounting system that uses pre-determined costs to value the cost of goods sold and assess the performance.

Labour Efficiency Variance

The difference between the actual labor hours used and the standard labor hours expected for the level of production achieved, often indicating productivity levels.

Variable Overhead

Costs that vary with the level of production output, such as utilities for a manufacturing plant, which increase with more production.

Labour Rate Variance

The difference between the actual cost of labor and its expected cost based on standards set for production.