Displacement Tonnage Is the Weight of the Ship,when Empty,measured by the Weight

question 46

True/False

Displacement tonnage is the weight of the ship,when empty,measured by the weight of the volume of water it displaces.

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Definitions:

Standard Cost

A pre-determined estimate of the cost to produce or acquire a single unit of product or service, used for budgeting and measuring performance.

Direct Materials Quantity Variance

The difference between the actual quantity of materials used in production and the standard quantity expected, multiplied by the standard cost per unit.

Standard Quantity

The predetermined amount of materials or inputs planned to be used in a manufacturing process or task.

Standard Price

A predetermined cost that companies assign to goods and services, used as a benchmark to measure the actual cost performance.