The Temporal Focus Hypothesis States That _________________________________

question 11

Multiple Choice

The temporal focus hypothesis states that _________________________________.

• A) persons who think a lot about the passage of time are more likely to be future-oriented
• B) persons who think a lot about the passage of time are more likely to be present-oriented
• C) persons who think a lot about the passage of time are more likely to be past-oriented
• D) none of the above

---

Definitions:

Standard Costing System

A cost accounting system that uses standard costs for product costs and measures variances to actual costs for performance evaluation.

Overhead Volume Variance

The difference between the expected (budgeted) overhead costs and the actual overhead allocated based on actual volume of production.

Materials Price Variance

The difference between the actual cost of materials used in production and the budgeted cost, based on standard pricing.

Total Materials Variance

The difference between the actual cost of materials used in production and the standard cost of those materials.