Many People Prefer Debit Cards to Checks Because

question 136

Multiple Choice

Many people prefer debit cards to checks because:

• A)checkbooks are not required and direct payments are made.
• B)checks are unsafe for use.
• C)debit cards delay money payments.
• D)using checks is time consuming.
• E)debit cards help account holders get a loan from the card issuer.

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Definitions:

Labor Rate Variance

The difference between the actual wage rate paid to workers and the expected or standard wage rate, multiplied by the actual hours worked.

Labor Efficiency Variance

The difference between the actual hours worked and the standard hours expected to produce a certain level of output, multiplied by the standard labor rate.

Variable Overhead

Costs of production that fluctuate with changes in production volume, such as utilities or raw materials, not directly tied to labor or capital.

Indirect Labor

Wages paid to employees who are not directly involved in production but support the process, such as maintenance and supervisory staff.