The Largest Employer in the Country and the Largest Purchaser

question 49

Multiple Choice

The largest employer in the country and the largest purchaser of goods and services in the world is

• A)Amazon.
• B)Walmart.
• C)Apple.
• D)the U.S.federal government.

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Definitions:

Rate Variances

Differences between actual rates paid for inputs and the standard expected rates, often analyzed in cost accounting for labor, materials, and overhead costs.

Variable Overhead

Costs that vary with production volume, such as utilities for a factory, which do not remain constant as production levels change.

Materials Quantity Variance

Materials Quantity Variance is the difference between the actual quantity of materials used in production and the expected quantity, multiplied by the standard cost per unit, indicating efficiency in material usage.

Labor Efficiency Variance

The difference between the actual hours worked and the standard hours allowed for the actual production, multiplied by the standard labor rate.