The Following Data for April Has Been Provided by Cowle

question 60

Multiple Choice

The following data for April has been provided by Cowle Corporation.The volume variance for April is:

• A) $10,150 U.
• B) $8,120 U.
• C) $8,120 F.
• D) $10,150 F.

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Definitions:

Long-Run Cost Function

A representation of the total cost associated with producing a given level of output when all inputs, including capital, can be varied.

Positive Output

A situation in which an economic model or production process results in a positive amount of goods or services being produced.

Supply Function

A mathematical relationship that shows the quantity of a good or service that producers are willing and able to sell at different prices.

Long-Run Cost Function

A graphical or mathematical representation that shows the lowest cost at which a firm can produce any given level of output in the long run, when all inputs are variable.