Over the Past Several Decades Unions Have

question 161

Multiple Choice

Over the past several decades unions have:

• A) always placed the greatest emphasis on increasing wages and benefits.
• B) frequently changed objectives as the result of shifts in social and economic conditions.
• C) frequently taken global competition into account.
• D) consistently favored policies that would move the U.S. economy toward a command system.

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Definitions:

Underapplied

A situation in cost accounting where the allocated overhead costs are less than the actual overhead costs.

Predetermined Overhead Rate

The predetermined overhead rate is a rate used to allocate manufacturing overhead costs to products or job orders, based on estimated overhead costs and activity levels.

Variable Overhead Rate Variance

The difference between the actual variable overhead costs incurred and the standard cost allocated, indicating inefficiencies or cost control issues.

Favorable

A term used in accounting to describe a situation where actual costs are less than the budgeted or standard costs.