A Major Factor in the Shift in American Foreign Policy

question 87

Multiple Choice

A major factor in the shift in American foreign policy toward imperialism in the late nineteenth century was

• A) the need for additional population.
• B) the desire for more farmland.
• C) the construction of an American-built isthmian canal between the Atlantic Ocean and Pacific Ocean.
• D) the closing of the frontier.
• E) the need for overseas markets for increased industrial and agricultural production.

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Definitions:

Materials Quantity Variance

The difference between the actual quantity of materials used in production and the expected quantity, multiplied by the standard cost per unit.

SQ × AP

The standard quantity times actual price formula, used in cost accounting to calculate the variance between the actual cost and the standard cost of raw materials.

Direct Materials Price Variance

The difference between the actual cost and the standard cost of direct materials used in production, indicating how effectively the materials budget is being adhered to.

Per-Unit Standards

Estimates of the direct materials, direct labor, and manufacturing overhead costs required to produce one unit of a product.