Satisficers Are Individuals Who

question 112

Multiple Choice

Satisficers are individuals who:

• A) make judgments of likelihood based on how well an example represents a specific category.
• B) seek to make decisions that are "good enough."
• C) attempt to evaluate every option for every choice until they find the perfect fit.
• D) try to satisfy the expectations of others.

---

Definitions:

Raw Materials Quantity Variance

The difference between the actual quantity of raw materials used in production and the standard quantity expected to be used, multiplied by the standard cost per unit of raw material.

Raw Materials Price Variance

The difference between the actual cost of raw materials purchased and the standard or expected cost, reflecting variances in purchase prices.

Raw Materials Quantity Variance

The difference between the expected and actual quantity of raw materials used in production, affecting manufacturing costs.

Materials Price Variance

This is the difference between the actual cost of direct materials and the standard cost, multiplied by the quantity purchased.