MsAlmanzor Had High Expectations for Martin

question 3

Multiple Choice

Ms.Almanzor had high expectations for Martin.When Martin did exceptionally well on the macro economics test,Ms.Almanzor attributed his test performance in part to the

• A)use of high-stakes testing practices.
• B)Pygmalion effect.
• C)fact that she gave him extra time to complete the test.
• D)recent increase in self-esteem.

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Definitions:

Variable Overhead

Variable overhead refers to costs that fluctuate with production levels, such as utilities or materials used in production that can vary with output.

Efficiency Variance

The difference between the actual costs incurred and the standard costs for the actual level of production activity, indicating efficiency in resource usage.

Direct Materials

Raw materials that are directly incorporated into a finished product and can easily be traced to it.

Planning Budget

A budget prepared to anticipate the future financial position, operations, and resources of an entity based on expected income and expenses.