The Council of the Indies Did All of the Following

question 42

Multiple Choice

The Council of the Indies did all of the following EXCEPT

• A) decide which Spanish laws should be revised for the New World.
• B) advise the king on everything pertaining to colonial affairs.
• C) negotiate between Portuguese and Spanish colonists.
• D) approve all significant expenditures.

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Definitions:

Variable Overhead Rate Variance

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

Standard Machine-Hours

A predetermined amount of time that a machine is expected to operate to meet production requirements.

Manufacturing Overhead

All indirect costs associated with the manufacturing process, including rent, utilities, and salaries for employees not directly involved in production.

Standard Hours Allowed

The time budgeted for the completion of a task or production of goods, based on efficient operations.