The Vertical Axis in a Graph

question 262

Multiple Choice

The vertical axis in a graph

• A) is named the y-axis.
• B) is named the x-axis.
• C) measures time in a cross-section and time series graph.
• D) has no origin.
• E) measures time only in a time series graph.

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Definitions:

Fixed Manufacturing Overhead

These are the production costs that do not change with the volume of production, such as rent, salaries, and insurance.

Direct Labor Costs

Expenses that can be directly traced to the production of goods or services, including wages of workers who are physically involved in creating a product.

Predetermined Overhead Rate

A rate calculated by dividing estimated overhead costs by an allocation base, used to apply overhead to products or services.

Materials Quantity Variance

The difference between the actual quantity of materials used in production and the expected (or standard) quantity, measured in financial terms.