A(n) ____ Is an Intermediary Who Matches Sellers of Obsolete

question 19

Multiple Choice

A(n) ____ is an intermediary who matches sellers of obsolete inventory with purchasers who are looking for bargains.

• A) pawnshop
• B) trading partner
• C) escrow service
• D) liquidation broker

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Definitions:

Variable Overhead Rate Variance

The difference between the actual variable overhead incurred and the expected (or standard) cost based on the actual level of activity.

Variable Manufacturing Overhead

Overhead costs that fluctuate with the level of production, such as utilities or raw materials.

Standards

Predetermined benchmarks or norms used for measuring performance, costs, and efficiency in production.

Variable Overhead Efficiency Variance

This measures the difference between the actual variable overhead costs incurred and the standard costs expected for the actual production level achieved, pertaining to efficiency in managing variable overheads.