The Chicago Mercantile Exchange Recently Merged with

question 102

Multiple Choice

The Chicago Mercantile Exchange recently merged with

• A)the Chicago Board of Trade.
• B)the American Exchange.
• C)the New York Mercantile Exchange.
• D)NASDAQ.

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Definitions:

Unfavorable

A term used to describe a situation or outcome that is not advantageous, detrimental, or negatively impacts objectives.

Direct Labor Time Variance

The difference between the estimated time to produce a good or service and the actual time taken, multiplied by the hourly labor rate.

Direct Labor

This references the cost of labor that can be directly attributed to the manufacture or production of specific goods or services.

Cost Variance

The difference between the expected (budgeted) cost of an activity and the actual cost incurred, used in budgeting and financial reporting to monitor performance.