From a Marketing Standpoint, a New Product Is Anything That

question 147

True/False

From a marketing standpoint, a new product is anything that customers perceive as new and different.

---

Definitions:

Variable Overhead Rate Variance

The difference between the actual variable overhead incurred and the expected (or standard) variable overhead based on a standard rate.

Variable Manufacturing Overhead

Costs that vary with the level of production output, such as utilities or raw materials.

Direct Labor-hours

The total time workers spend working directly on manufacturing goods, often used as a basis for allocating manufacturing overhead.

Variable Overhead Rate Variance

The difference between the actual variable overhead incurred and the expected (standard) variable overhead based on the actual production level.