Case-Based Critical Thinking Questions Case 2-1 Thomas Is Writing a Report

question 25

Multiple Choice

Case-Based Critical Thinking Questions Case 2-1 Thomas is writing a report for his advertising class in which he analyzes corporate campaigns and ad slogans. To compile his report, he needs to copy several quotes and portions of articles from other documents, and needs to pay special attention to formatting. Thomas has typed 20 pages of his report and realizes that he typed Niko and should have typed Nike . The most efficient way for him to fix this error is to ____.

• A) proofread
• B) use Find and Replace
• C) run the Spelling and Grammar Checker
• D) search the text

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Definitions:

Efficiency Variances

Represents the difference between the actual input costs and the standard input costs anticipated for the production achieved.

Sales Price Variances

The difference between the actual price at which goods or services are sold and the expected (standard) sale price.

Sales Volume Variances

This is the difference between the actual sales volume and the budgeted sales volume, affecting revenue and expense projections.

Direct Materials Price Variance

The variance between the real expense of direct materials utilized in production and their predetermined cost, multiplied by the real amount of materials used.