The Difference Between Actual Quantity Used and Standard Quantity Multiplied

question 58

Multiple Choice

The difference between actual quantity used and standard quantity multiplied by standard price is the equation for computing the

• A) direct labor efficiency variance.
• B) direct materials price variance.
• C) direct labor rate variance.
• D) direct materials quantity variance.

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Definitions:

Regressive Tax

A tax that takes a smaller share of the income of high-income taxpayers than of low-income taxpayers.

Progressive Tax

A tax that takes a larger share of the income of high-income taxpayers than of low-income taxpayers.

Benefits Principle

The principle of tax fairness by which those who benefit from public spending should bear the burden of the tax that pays for that spending.

Federal Tax

Taxes levied by the national government on income, sales, property, and other activities.