Whenever a Vehicle Is Registered or a Registered Vehicle Is

question 93

Multiple Choice

Whenever a vehicle is registered or a registered vehicle is sold, a record of the VIN is kept. From this registry, which of the following information can be obtained from this registration?

• A) Title history
• B) Whether vehicle has been in a wreck
• C) Whether vehicle is a lemon law buyback
• D) All of the above

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Definitions:

Direct Materials Quantity Variance

The difference between the actual quantity of materials used in production and the standard quantity expected, multiplied by the standard cost per unit.

Direct Labor Time Variance

The difference between the actual time taken to complete a task and the standard time expected, multiplied by the labor rate.

Factory Overhead Volume Variance

The difference between the budgeted and actual volume of production, affecting the allocation of fixed manufacturing overhead costs to products.

Direct Materials Price Variance

A measure used in cost accounting that calculates the difference between the actual cost of direct materials and the standard cost expected to be incurred.