Examlex
Give at least three good reasons why a favourable rate variance for direct materials might be reported.
Fixed Cost
Costs that do not vary with the level of production or sales, such as rent, salaries, and insurance.
Cartel
An agreement among competing firms to control prices or exclude entry of a new competitor in a market, often to maximize their profits illegally or unethically.
Collusive Agreements
Arrangements or agreements, often illegal, between competing firms to limit competition, control prices, or divide markets among themselves.
Cartel
A formal agreement among competing firms to control the market for a certain product by setting prices, limiting supply, or other restrictive practices.
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