Select the Correct Answer: for Each Question

question 58

Multiple Choice

Select the correct Answer: for each question.
-Use differentials to estimate the amount of metal in a closed cylindrical can that is 12 cm high and 8 cm in diameter if the metal in the top and bottom is 0.09 cm thick and the metal in the sides is 0.01 cm thick.(rounded to the nearest hundredth.)

• A)8.34
• B)6.99
• C)6.91
• D)6.7

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Definitions:

Standard Cost System

A cost accounting system that uses standard costs for inventory valuation and as a tool for cost control.

Budgeted Activity

Planned or expected levels of operational activity, which may include sales volume, production quantities, or labor hours, for budgeting purposes.

Fixed Overhead

Costs that do not change with the level of production or sales over a short period, such as rent, salaries, and insurance.

Budget Variance

The difference between what was budgeted or planned in terms of financial performance or cost, and what was actually achieved.