The Following Standards for Variable Manufacturing Overhead Have Been Established $\quad$

question 36

Multiple Choice

The following standards for variable manufacturing overhead have been established for a company that makes only one product:Standard hours per unit of output $\quad$$\quad$ 7.0 hours
Standard variable overhead rate $\quad$$\quad$ £ 11.35 per hour
The following data pertain to operations for the last month: $\begin{array}{ll}\text { Actual hours } & 7,500 \text { hours } \\\text { Actual total variable overhead cost } & £ 87,000 \\\text { Actual output } & 1,000 \text { units }\end{array}$
- What is the materials quantity variance for the month?

• A)£9,940 U
• B)£15,351 U
• C)£14,484 U
• D)£10,535 U

Explain the importance of considering substitute products in market analysis.

Understand the consequences of defining a market too narrowly.

Differentiate between product types, categories, variants, and sectors in market segmentation.

Comprehend the role of brand-switching data in market analysis.

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Definitions:

Guilty-knowledge Test

A type of psychological test used to determine if a person has knowledge only someone involved in a crime would have, based on their physiological responses.

Polygraph Test

A method of lie detection that measures and records several physiological indices such as blood pressure, pulse, respiration, and skin conductivity while a person is asked a series of questions.

Aggressive Behavior

Acts that can result in harm or discomfort to others, often characterized by physical or verbal hostility.

Berkowitz's Theory

A psychological theory suggesting that frustration leads to aggression, and the presence of aggressive cues directs this frustration towards aggression.