A Criterion That Might Provide a Material Principle of Justice

question 23

Multiple Choice

A criterion that might provide a material principle of justice would be:

• A) Need
• B) Social and economic liberty
• C) Public utility
• D) Community-specific conceptions of the good
• E) All of the above

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Definitions:

Standard Cost

A predetermined cost of manufacturing a single unit or a number of units of a product, calculated for managerial accounting purposes.

Materials Quantity Variance

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

Materials Price Variance

The deviation from the standard to the real price of materials, calculated by multiplying this difference by the amount of materials bought.

Variable Overhead

Overhead costs that vary directly with the level of production or activity, such as electricity or material handling costs.