Write the Word or Phrase That Best Completes Each Statement

question 406

Multiple Choice

Write the word or phrase that best completes each statement or answers the question.
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• A)x = 5, y = -2, z = 2; (5, -2, 2)
• B)x = 2, y = 5, z = 2; (2, 5, 2)
• C)x = 5, y = 2, z = -2; (5, 2, -2)
• D)x = -5, y = -2, z = -2; (-5, -2, -2)

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Definitions:

Variable Overhead

encompasses the costs of production that vary with the level of output, such as utilities and materials, as opposed to fixed overheads.

Direct Labour Hours

The total hours worked by employees directly involved in the manufacturing process of a product.

Static Budget

A budget based on a fixed set of assumptions that don't change over the period it covers, regardless of actual changes in volume or activity levels.

Standard Costing

Standard Costing is a cost accounting method that uses fixed overhead rates and standard costs for materials and labor to help control costs and measure performance.