Which Statement Characterizes Petrochemicals

question 88

Multiple Choice

Which statement characterizes petrochemicals? 

• A) They are impurities that must be burned or buried. 
• B) They are additives that increase the octane level of gasoline. 
• C) They are removed from oil before the oil is refined. 
• D) They are used as raw materials in producing the majority of organic chemicals.

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Definitions:

Actual Costs

The real costs incurred for materials, labor, and overhead in producing goods or delivering services, as opposed to estimated costs.

Standard Costs

Estimated pre-determined costs used for budgeting and measuring performance.

Standard Direct Labor Rate

The predetermined cost per hour for labor directly involved in manufacturing a product or delivering a service.

Payroll Taxes

Taxes imposed on employers or employees, and are usually calculated as a percentage of the salaries that employers pay their staff.