Note: Amounts in $ Trillions

question 229

Multiple Choice

Note: Amounts in $ trillions
-Refer to the above table. Which variables in the table are NOT autonomous?

• A) Taxes, government spending, and saving.
• B) Planned investment, net exports, and government spending.
• C) Planned consumption and planned saving.
• D) Planned saving only.

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Definitions:

Fixed Overhead Spending Variance

The difference between the actual and budgeted fixed overhead costs incurred during a period.

Variable Manufacturing Overhead

Refers to the production costs that fluctuate with the level of output, such as utility costs or raw materials, which are not directly tied to individual units.

Materials Quantity Variance

The difference between the expected and actual quantity of materials used in production, impacting materials cost.

Standard Quantity

This represents the expected amount of materials or inputs needed to produce a unit of product under normal conditions.