XYZ Corporation Expects Its Managers and Employees to Testify at Congressional

question 42

Multiple Choice

XYZ Corporation expects its managers and employees to testify at congressional hearings and appear before state legislatures to advocate policy positions on everything from taxes to activities in national parks.Into which school of social responsibility would you place XYZ Corporation?

• A)Inherence
• B)Enlightened self-interest
• C)Invisible hand
• D)Social responsibility

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Definitions:

Manufacturing Overhead Controllable Variance

Manufacturing Overhead Controllable Variance is the difference between the budgeted and actual manufacturing overhead costs that management has control over.

Flexible Manufacturing Overhead Budget

A plan that estimates the variable and fixed overhead costs for each level of production activity.

Direct Labor Hour

A measure of the labor directly involved in producing goods or services, expressed in hours.

Volume Overhead Variances

The difference between the budgeted overhead costs based on expected volume and the actual overhead costs incurred.