The Amount of Kilojoules Contained in a 250 Gram Packet

question 143

True/False

The amount of kilojoules contained in a 250 gram packet of cheese is an example of a discrete variable.

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Definitions:

IMA

Stands for the Institute of Management Accountants, a professional organization that promotes the practice of management accounting and financial management.

Price Variances

The difference between the actual cost and the standard cost of goods or services.

Direct Labor Cost Variance

The difference between the budgeted or expected cost of direct labor and the actual cost incurred.

Flexible Budget

A budget that adjusts or flexes with changes in volume or activity levels of the business.