Complete Specialization by Countries Does Not Occur Because

question 120

Multiple Choice

Complete specialization by countries does not occur because:

• A) countries want to protect domestic producers.
• B) services can be cost-effectively traded globally.
• C) governments often do not support international trade.
• D) technical skills vary greatly from country to country.

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Definitions:

Standard Direct Hours

Standard direct hours represent the estimated amount of time that should be spent by labor to produce a unit of output under normal conditions.

Fixed Factory Overhead Volume Variance

A measure used to assess the difference between the budgeted and the actual volume of production, impacting the budgeted fixed overhead costs.

Fixed Factory Overhead Volume Variance

This calculates the difference between the budgeted and actual volume of production, affecting the fixed overhead costs allocated to each unit of production.

Variable Factory Overhead Controllable Variance

The difference between the actual variable overhead costs and the budgeted costs controllable by management.