What Are Mini-Multinationals

question 28

Multiple Choice

What are mini-multinationals?

• A)multinational firms from relatively small countries in terms of area
• B)multinationals from the developing nations of the world
• C)multinational firms that operate in only one foreign country
• D)medium-sized and small multinationals
• E)subsidiaries of large multinationals in foreign countries

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Definitions:

Materials Price Variance

The difference between the actual cost of materials purchased and the expected cost, often used to monitor and control production costs.

Direct Labor-Hours

The total hours of labor directly involved in the production of goods or services, often used as a basis for allocating labor costs to products.

Variable Manufacturing Overhead

Indirect manufacturing costs that fluctuate with production volume, such as utilities and maintenance expenses.

Labor Efficiency Variance

The difference between the actual hours worked and the standard hours expected, multiplied by the standard labor rate.