The Following Questions Refer to the Paragraph Below

question 4

Multiple Choice

The following questions refer to the paragraph below.
A farm pond, usually dry during winter, has plenty of water and aquatic pond life during the summer. One summer, Sarah returns to the family farm from college. Observing the pond, she is fascinated by some six-legged organisms that can crawl about on submerged surfaces or, when disturbed, seemingly "jet" through the water. Watching further, she is able to conclude that the "mystery organisms" are ambush predators, and their prey includes everything from insects to small fish and tadpoles.
-Sarah observed that the mystery pond organisms never come up to the pond's surface. If she catches one of these organisms and observes closely, perhaps dissecting the organism, she should find 1. gills.
2) spiracles.
3) tracheae.

• A)1 only
• B)3 only
• C)1 and 3
• D)2 and 3
• E)1, 2, and 3

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Definitions:

Direct Material Variances

The difference between the actual cost of direct materials used in production and the standard cost, indicating efficiency in using materials.

Favorable Variances

Variances that occur when actual costs are less than standard or budgeted costs, or actual revenues exceed expectations, benefiting the company's financial performance.

Unfavorable Variances

Situations where actual costs are higher than planned or budgeted costs, or actual revenue is lower than expected.

Management By Exception

A management strategy where only significant deviations from planned results are brought to the attention of management, focusing efforts on areas that are not performing as expected.