Table 3-2 -Refer to Table 3-2. What Is the Opportunity Cost of the Opportunity

question 137

Multiple Choice

Table 3-2

-Refer to Table 3-2. What is the opportunity cost of 1 kilogram of meat for the Rancher?

• A)4 hours of labour.
• B)5 hours of labour.
• C)5/4 kilograms of potatoes.
• D)4/5 kilogram of potatoes.

Recognize the protections offered by Title VII against discrimination.

Understand the role of workplace assessments in measuring representation of women and minorities.

Identify patterns of discrimination against protected groups and the legal responses to such patterns.

Understand the concept of national origin discrimination and its implications in the workplace.

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Definitions:

Fixed Overhead Budget

A plan for the fixed costs involved in operating a business, which do not vary with levels of production or sales.

Standard Machine-Hours

The predetermined amount of time that machines are expected to operate to produce a set quantity of goods.

Variable Overhead Rate

Variable overhead rate is the ratio of variable overhead costs incurred for every unit of activity or a specific measure of activity, such as labor hours.

Direct Labor-Hours

The total hours worked by employees directly involved in the manufacturing process or production of goods and services.