Markus, Inc

question 53

Multiple Choice

Markus, Inc. produces a specialized machine part used in forklifts. For last year's operations, the following data were gathered: Markus employs a standard costing system. During the year, a variable overhead rate of $5.00 was used. The labor standard requires 0.50 hours per unit produced. The variable overhead spending and efficiency variances are, respectively

• A) $10,000 U and $7,500 U.
• B) $10,000 F and $7,500 U.
• C) $7,500 U and $10,000 F.
• D) $10,000 F and $7,500 F.
• E) None of these.

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Definitions:

Milgram Experiment

A psychological experiment conducted by Stanley Milgram in the 1960s to study obedience to authority, where participants were instructed to administer electric shocks to another person.

Stanford University Prison Experiment

A psychological study conducted by Philip Zimbardo in 1971 at Stanford University, where students were assigned roles of prisoners and guards to explore the effects of perceived power.

Generalization

Drawing a conclusion about a certain characteristic of a population based on a sample from it.

Logical Support

The provision of reasons or evidence to justify a claim or argument.