Use the Preference Schedule of 23 Voters for Three Candidates $\quad$

question 85

Essay

Use the preference schedule of 23 voters for three candidates (A, B, and C) shown below to answer the following Questions
$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\text { Number of students }$
$\begin{array}{lllll}& 8 & 5 & 6 & 4 \\\text { First choice } & \mathrm{A} & \mathrm{C} & \mathrm{B} & \mathrm{B} \\\text { Second choice } & \mathrm{C} & \mathrm{A} & \mathrm{C} & \mathrm{A} \\\text { Third choice } & \mathrm{B} & \mathrm{B} & \mathrm{A} & \mathrm{C}\end{array}$
-If a rank method is used, which candidate, if any, wins in a straight plurality election?

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Definitions:

Fixed Manufacturing Overhead

Costs in the production process that remain constant regardless of the production volume, such as rent or salaries of permanent staff.

Inventories Deferred

Inventories or stock that are postponed or delayed from being recognized in the financial statements.

Variable Costing

An accounting method that includes only variable production costs (direct materials, direct labor, and variable manufacturing overhead) in the cost of goods sold, excluding fixed overhead.

Variable Costing

Variable costing is a costing method that includes only variable production costs (direct materials, direct labor, and variable manufacturing overhead) in product costs.