Which of the Following Statements Correctly Specifies the Percentage of American

question 66

Multiple Choice

Which of the following statements correctly specifies the percentage of American families who owned television sets in the 1950s?

• A)Ninety percent of American families owned at least one television set by the end of the 1950s.
• B)Ten percent of American families owned at least one television set by the end of the 1950s.
• C)Forty percent of American families owned at least one television set by the end of the 1950s.
• D)Less than one percent of American families owned at least one television set by the end of the 1950s.
• E)None of the American families owned a television set as it was not invented in the 1950s.

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Definitions:

Labor Efficiency Variance

The variance between the real hours spent producing a good or service and the anticipated standard hours, times the standard wage rate.

Variable Overhead Rate Variance

The difference between the actual variable overhead costs incurred and the standard variable overhead expected for the actual production achieved.

Variable Overhead Efficiency Variance

A measure used in cost accounting to evaluate the efficiency of variable production costs, comparing the actual hours worked to the standard hours expected.

Materials Price Variance

The difference between the actual cost of materials and the expected (standard) cost.