Cohlsen Corporation Has a Favorable Materials Quantity Variance

question 19

Multiple Choice

Cohlsen Corporation has a favorable materials quantity variance.Which department would likely be asked to explain the cause of this variance?

• A)Engineering.
• B)Purchasing.
• C)Production.
• D)Marketing.
• E)None,because the variance is favorablE.

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Definitions:

Economic Growth

An increase in the production of goods and services in an economy over a period, typically measured by the rise in real GDP.

Productivity

The efficiency with which goods and services are produced, typically measured in terms of output per labor hour.

Living Standards

Refers to the level of wealth, comfort, material goods available to a person, group, or nation, similar to the standard of living.

Human Capital

The collective skills, knowledge, and other intangible assets of individuals that can be used to create economic value.