________ Corporations Have Shares That Are Controlled by a Relatively

question 112

Multiple Choice

________ corporations have shares that are controlled by a relatively small number of people-family members,relatives,or friends.

• A)Closely held
• B)Domestic
• C)Foreign
• D)Alien

---

Definitions:

Variable Overhead Efficiency Variance

A financial metric indicating the difference between the actual variable overhead costs incurred and the expected (or standard) costs, based on the efficient use of variable inputs.

Variable Manufacturing Overhead

Costs that fluctuate with the level of production output, such as utilities or materials that vary with production volumes.

Direct Labor-hours

The total amount of time spent by workers directly involved in the manufacturing of a product.

Variable Overhead Standards

The budgeted or standard costs associated with variable overheads, which are expected to change in proportion to different levels of production activity.