General Ltd

question 40

Multiple Choice

General Ltd. budgeted fixed overhead costs of $25,000 per quarter and 1,000 units per quarter in its normal absorption costing system. Any volume variance is carried forward and closed at year-end. The company experienced the following activity: The volume variance in quarter 1 was

• A) $2,500 Unfavorable
• B) $10,000 Unfavorable
• C) $7,500 Favorable
• D) $5,000 Favorable

Understand the economic implications of shifts in supply curves due to both natural events and economic factors.

Explain the relationship between price and quantity supplied and the formation of supply curves.

Understand the concept of supply and demand and how changes in these affect market prices.

Identify factors that shift supply and demand curves.

---

Definitions:

Family Law

Law relating to family matters, such as marriage, divorce, child support, and child custody.

Medical Care

The provision of health services by health professionals to treat and maintain the physical and mental well-being of individuals.

Family Law

a branch of law dealing with matters related to family relationships, such as marriage, divorce, child custody, and adoption.

Legal Obligations

Duties enforced by law that require individuals or entities to act in a certain way or follow specific rules.