Which Term Refers to the Breadth of the Product Lines

question 32

Multiple Choice

Which term refers to the breadth of the product lines available from a retailer?

• A) assortment
• B) collection
• C) variety
• D) range
• E) class

---

Definitions:

Direct Materials Cost Variance

The difference between the budgeted cost of materials for products and the actual cost incurred.

Direct Labor Rate Variance

The difference between the actual cost of labor per hour and the standard or expected cost, multiplied by the total labor hours worked.

Direct Labor Time Variance

The difference between the actual labor time spent on a product and the standard labor time expected, affecting product costs.

Standard Costs

Predetermined or estimated costs that are used as benchmarks for measuring the performance of actual costs in manufacturing or production.