The Gulf Stream Is an Ocean Current That Warms the

question 37

Multiple Choice

The Gulf Stream is an ocean current that warms the

• A) Gulf coast of the United States.
• B) west coast of the United States.
• C) west coast of Europe.
• D) west coast of Africa.

---

Definitions:

Standard Costing

A cost accounting method that uses standard costs—the expected costs of labor, material, and overhead—to compare against actual costs.

Variable Overhead

encompasses the costs of production that vary with the level of output, such as utilities and materials, as opposed to fixed overheads.

Direct Labour Hours

The total hours worked by employees directly involved in the manufacturing process of a product.

Static Budget

A budget based on a fixed set of assumptions that don't change over the period it covers, regardless of actual changes in volume or activity levels.