The Country That Pioneered Overseas Exploration in the Fifteenth Century

question 62

Multiple Choice

The country that pioneered overseas exploration in the fifteenth century was

• A)Italy.
• B)Spain.
• C)Portugal.
• D)England.
• E)France.

---

Definitions:

Variable Manufacturing Overhead

Costs in the manufacturing process that vary with the level of production output, such as materials and energy usage.

Fixed Manufacturing Overhead

Costs associated with manufacturing that remain constant regardless of the level of production, such as salaries of management and rent of the facility.

Absorption Costing

A costing method that includes all manufacturing costs, both fixed and variable, in the cost of goods sold.

Predetermined Overhead Rate

A rate calculated before the accounting period begins, used to allocate manufacturing overhead costs to individual products based on a certain activity base.