Scenario: Wang's Techno Toys

question 80

Multiple Choice

Scenario: Wang's Techno Toys
Ann Wang has been successful in the domestic market selling high-tech toy products. But facing stiff competition at home, Ann has entered international markets by direct exporting.
-In some countries, Ann found it is better to exchange goods and services directly for her Techno Toys without the use of money, a practice known as ________.

• A) offset
• B) counterpurchase
• C) switch trading
• D) barter

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Definitions:

Standard Labour Hours

The calculated amount of labor hours predetermined to be necessary for completing a specific task or producing a certain quantity of goods.

Actual Hours Worked

The real number of hours an employee or workforce spends performing tasks during a specific period, as opposed to scheduled or standard hours.

Materials Price Variance

The difference between the actual cost of materials used in production and the standard (expected) cost.

Standard Quantity Of Hours

The standard quantity of hours refers to the pre-determined amount of labor hours estimated to be necessary to produce a single unit of output.