A Graph of the Value of One Variable Against the Value

question 3

Multiple Choice

A graph of the value of one variable against the value of another variable is known as a

• A) two-dimensional graph.
• B) three-dimensional graph.
• C) time-series graph.
• D) scatter diagram.
• E) two-variable graph.

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Definitions:

Labor Efficiency Variance

The gap between the number of hours actually worked and the number of standard hours projected, multiplied by the standard wage rate.

Direct Labor

The expenses associated with salaries for workers directly involved in the creation or production of products.

Materials Quantity Variance

The difference between the actual quantity of materials used in production and the expected quantity, based on standards.

Direct Materials

Materials and supplies directly used in the manufacturing of a product and can be directly traced to the finished product.