Ocean Fish Are Considered Rival Because a Fish Taken by One

question 121

Multiple Choice

Ocean fish are considered rival because a fish taken by one person is ________ for anyone else,and they are nonexcludable because it is ________ to prevent people from catching them.

• A) not available; difficult
• B) not available; easy
• C) available; difficult
• D) available; easy
• E) not available; fair

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Definitions:

Variable Overhead

The portion of overhead costs that varies directly with production volume, such as raw materials and labor hours.

Spending Variance

The difference between the actual amount spent and the budgeted amount for a cost or expense over a particular period.

Budgeted Overhead

The estimated cost of overhead expenses planned for a specific period, including items such as utilities, rent, and indirect labor.

Applied Fixed Overhead

The portion of fixed overhead costs allocated to individual units of production based on a predetermined rate.