Which of the Following Is True

question 24

Multiple Choice

Which of the following is true?

• A) Hurricanes are only given male names.
• B) Hurricanes are only given female names.
• C) Hurricanes are alternately assigned male and female names.
• D) Atlantic hurricanes are given male names and Pacific hurricanes are given female names.

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Definitions:

Material Price Variance

The difference between the actual cost of materials and the expected (or standard) cost.

Labor Rate Variance

The difference between the actual cost of labor and the expected (or budgeted) cost, based on predetermined rates and actual hours worked.

Variable Overhead Rate Variance

The gap between what was actually spent on variable overhead and what was predicted to be spent, considering the actual activity level.

Rate Variances

Differences between the standard or expected rates of costs and the actual rates incurred, often analyzed in cost accounting.