Apple Recently Introduced a Newly Designed IPod Nano with Multi-Touch

question 40

Multiple Choice

Apple recently introduced a newly designed iPod nano with Multi-Touch capability,a built-in FM radio,and mix-making Genius.Since it was not trying to reach a new target market,Apple was using which new product strategy?

• A) Improvement or revision of existing product
• B) Addition to existing product line
• C) Discontinuous innovation
• D) Repositioned product
• E) New product line

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Definitions:

Standard Cost Variances

The differences between the actual costs incurred and the standard costs against which they are measured, often analyzed for materials, labor, and overhead.

Cost of Goods Sold

Represents the total direct costs attributable to the production of goods sold in a company, including materials and labor.

Materials Price Variance

The difference between the actual cost of materials purchased and the expected (standard) cost, indicating how effectively a company controls its materials costs.

Raw Material Purchase

The process of acquiring the basic materials needed for production of goods.