A Generalization About a Person or a Group of Persons

question 63

True/False

A generalization about a person or a group of persons based on certain characteristics or traits is called prejudice.

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Definitions:

Overhead Volume Variance

The difference between the budgeted and actual volume of overhead costs.

Direct Labor Hours

The total hours worked by employees directly involved in the manufacturing of products or in providing services.

Budgeted Overhead

Budgeted overhead is the estimated total cost of all overhead expenses planned for a specific period in the future.

Controllable Overhead Variance

The difference between the actual overhead costs incurred that are directly manageable by a manager and the budgeted or standard overhead costs.