_____ Is the Process and Activities People Engage in When

question 64

Multiple Choice

_____ is the process and activities people engage in when searching for,selecting,purchasing,using,evaluating,and disposing of products and services so as to satisfy their needs and desires.

• A)Marketing
• B)Exchange
• C)Consumer behavior
• D)Conspicuous consumption
• E)Learning

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Definitions:

Labor Efficiency Variance

The difference between the actual hours worked and the standard hours expected, multiplied by the standard labor rate.

Direct Materials Purchases Variance

The difference between the actual cost of direct materials purchased and the expected cost of direct materials, based on standard cost.

Standard Direct Labor-Hours

The predetermined amount of labor time estimated or expected to produce a unit of output, used for budgeting and measuring efficiency.

Labor Rate Variance

The difference between the actual cost of labor and the budgeted or standard cost of labor.