The Literal Meaning of the Term Physiology Is Knowledge of

question 57

Multiple Choice

The literal meaning of the term physiology is knowledge of

• A) organs.
• B) nature.
• C) science.
• D) chemistry.
• E) math.

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Definitions:

Fixed Manufacturing Overhead

The set amount of costs for production that do not vary with the level of output, such as salaries of supervisors and rent of the factory building.

Budget Variance

The financial difference between the budgeted amount and the actual amount spent or received.

Standard Cost System

An accounting method that assigns preset costs to products and services, which are then compared to actual costs incurred.

Predetermined Overhead Rate

A calculated rate designed to assign estimated indirect manufacturing costs to products or services, based on a planned activity level.