Which of the Following Variables Is Quantitative

question 86

Multiple Choice

Which of the following variables is quantitative?

• A)The amount of time a student spends on the Internet in a week
• B)The number of tenured professors at a large university
• C)The number of hurricanes each year for the years 2000 to 2010
• D)All of the above
• E)None of the above

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Definitions:

Variable Overhead

Costs that vary with production volume, such as utilities for a factory, which do not remain constant as production levels change.

Materials Quantity Variance

Materials Quantity Variance is the difference between the actual quantity of materials used in production and the expected quantity, multiplied by the standard cost per unit, indicating efficiency in material usage.

Labor Efficiency Variance

The difference between the actual hours worked and the standard hours allowed for the actual production, multiplied by the standard labor rate.

Labor Rate Variance

The difference between the actual costs of labor and the expected (or standard) costs, based on the standard labor rate.