Use the Following to Answer Questions

question 33

Multiple Choice

Use the following to answer questions :
-(Table: Production of Good Z and Good X in Urbanville) Look at the table Production of Good Z and Good X in Urbanville. If this table shows the production possibility frontier and if Urbanville is producing 5 of Z and 50 of X, this combination is:

• A)feasible but inefficient.
• B)feasible and efficient.
• C)not feasible but efficient.
• D)neither feasible nor efficient.

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Definitions:

Sales Orders

Formal documents issued by a buyer to a seller authorizing the sale of a specific quantity of goods at a specified price, which upon acceptance, becomes a contract.

Machine Breakdowns

Situations when industrial or office machinery stops functioning due to mechanical failure, necessitating repair or replacement.

Utility Costs

Expenses incurred for essential services such as electricity, gas, water, and sewer, which are necessary for operating a business or maintaining a home.

Variable Factory Overhead Controllable Variance

The difference between actual variable overhead incurred and the expected (or budgeted) variable overhead based on standards set by management.