________ Includes General Management, Finance, Accounting, Legal, and Government Affairs

question 13

Multiple Choice

________ includes general management, finance, accounting, legal, and government affairs.

• A) Human resources
• B) Research and development
• C) Firm infrastructure
• D) Operations management

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Definitions:

Variable Overhead

Costs that fluctuate with production levels, such as utility bills or raw material costs, that are not directly tied to manufacturing.

Materials Price Variance

The difference between the actual cost of raw materials and the standard (expected) cost, used to assess budgeting efficiency.

Direct Materials Purchases Variance

The difference between the actual cost of direct materials purchased and the expected cost at standard prices.

Standard Costs

Predetermined costs for materials, labor, and overhead that are used as benchmarks to measure actual performance and cost control.