Which of the Following Is Not a Method for Estimating

question 24

Multiple Choice

Which of the following is not a method for estimating the population standard deviation?

• A)prior study results
• B)conduct a pilot study
• C)use secondary data
• D)using population size

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Definitions:

Fixed Overhead

The costs that do not vary with the level of production or sales, such as rent, salaries, and insurance.

Controllable Variance

The difference between the actual and expected or budgeted figures of costs and revenues that management can directly influence or control through their actions.

Direct Labor Hour

A measure of the labor directly spent on manufacturing a product, often used as a basis for allocating labor costs to products.

Direct Materials Price Variance

The difference between the actual cost of materials used in production and the expected (standard) cost.