Which of the Following Is Not an Example of an Individual

question 45

Multiple Choice

Which of the following is not an example of an individual retirement account?

• A)Roth 401(k)plan
• B)Traditional IRA
• C)Roth IRA
• D)Spousal IRA

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Definitions:

Direct Labor-hours

The total hours of labor directly involved in the production of goods, often used as a basis for allocating manufacturing overhead in process costing.

Variable Manufacturing Overhead Standards

Pre-established rates or quantities that are used to assign variable overhead costs to products based on levels of activity such as labor or machine hours.

Variable Overhead Rate Variance

The variance between the actual variable overhead costs that were incurred and the anticipated variable overhead calculated according to the real amount of activity.

Supplies Cost

The expense incurred to acquire supplies necessary for the production of goods or the operation of a business.