When JDPower and Associates Sell the Results of Its Research Studies

question 32

Multiple Choice

When J.D.Power and Associates sell the results of its research studies on new-car satisfaction to automobile producers,J.D.Power is acting as a _____,

• A) research intermediary
• B) syndicated service
• C) research medium
• D) custom research supplier

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Definitions:

Standard Cost System

An accounting method that uses standard costs for the cost of materials, labor, and overhead to evaluate performance and control costs.

Cost of Goods Sold

The total cost directly associated with producing goods which have been sold, including materials and labor.

Work in Process Inventories

Items in a manufacturing process that are not yet completed products, including raw materials, labor, and overhead costs.

Standard Cost Variances

refer to the differences between the expected (standard) costs and the actual costs incurred.