An Unfavorable Production-Volume Variance ________

question 126

Multiple Choice

An unfavorable production-volume variance ________.

• A) is not a good measure of a lost production opportunity
• B) indicates that the company had reduced its per unit fixed overhead cost to improve sales
• C) measures the amount of extra fixed costs planned for but not used
• D) takes into account the effect of additional revenues due to maintaining higher prices

Recognize situations where a preexisting duty affects the validity of consideration.

Differentiate between the adequacy of consideration and the factors courts consider in evaluating it.

Understand the applications and limitations of the doctrine of promissory estoppel.

Distinguish between enforceable and non-enforceable promises based on the presence of consideration.

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Definitions:

Scale Values

Scale values refer to the numerical or categorical measurements assigned to variables or responses for the purpose of quantitative analysis.

Standard Deviation

A computed measure of how much scores vary around the mean score.

Two-factor Theory

A psychological theory proposing that emotions are the result of both physiological arousal and cognitive labeling of that arousal.

Romantic Greeting Card

A printed card which expresses affection, love, or other romantic emotions, often exchanged on special occasions like Valentine's Day or anniversaries to convey personal sentiments.