Use the Following to Answer the Question(s) Below

question 27

Multiple Choice

Use the following to answer the question(s) below.
A magazine that publishes product reviews conducted a survey of teenagers' preferences for cell phones. Three brands of cell phone designed specifically with teens in mind were the focus of the study. The table summarizes responses by brand and gender.

-What percent of teenagers preferred LG Rumour?

• A) 50.0% (350/700)
• B) 40.6% (142/350)
• C) 24.9% (87/350)
• D) 15.7% (55/350)
• E) 20.3% (142/700)

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Definitions:

Standard Cost System

An accounting method where costs are predetermined for products and services, facilitating the analysis of variances between expected and actual costs.

Supplies Cost

The expenses associated with purchasing materials and supplies used in the operation of a business, not directly tied to production.

Manufacturing Overhead

All indirect costs associated with the manufacturing process, such as utilities, maintenance, and factory management salaries.

Materials Quantity Variance

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