Which Statement Is Correct

question 6

Multiple Choice

Which statement is correct?

• A) RORs to education probably justify investment in education throughout the world.
• B) Investment in education is only justified in less-developed countries.
• C) Investment in education is only justified in more-developed countries.
• D) Investment in tertiary education is not a productive use of society's resources worldwide.

---

Definitions:

Direct Labor-Hours

Overall employment hours dedicated directly to the manufacturing operation.

Labor Rate Variance

The difference between the actual cost of labor and the budgeted or standard cost, calculated based on hours worked and wage rates.

Labor Standards

Standards specifying the amount of time needed to complete a specific task or produce a set quantity of products.

Fixed Manufacturing Overhead

Indirect manufacturing costs that remain constant regardless of the level of production, such as salaries of managers and depreciation of factory equipment.