The U.S.government Defines a Poor Household as One

question 34

Multiple Choice

The U.S.government defines a poor household as one

• A) with total income three times more than the amount required to satisfy the minimum needs of a household.
• B) below the poverty line of $12,000 in household income.
• C) with total income less than the amount required to satisfy the minimum needs of a household.
• D) with disposable income less than $25,000.

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Definitions:

Per-Unit Standards

Estimates of the direct materials, direct labor, and manufacturing overhead costs required to produce one unit of a product.

Direct Labor Price Variance

The difference between the actual cost of direct labor and the expected (or standard) cost of direct labor used during production.

Direct Labor Payroll

The total amount of money paid to employees directly involved in manufacturing products or providing services.

Standard Rate of Pay

The regular amount of pay given for standard work hours or for performing a standard task or job.