Block Grants Are Designed To

question 92

Multiple Choice

Block grants are designed to:

• A) fund a large number of similar projects
• B) fund urban improvements on a specific city block
• C) give the states considerable say in how the money should be spent
• D) fund capital improvements in a specific block of schools
• E)impose strict limits on how state governments can spend money from the federal government

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Definitions:

Materials Quantity Variance

The difference between the actual amount of materials used in production and the standard amount expected, measured in terms of cost.

Labor Price Variance

The difference between the actual cost of direct labor and the standard or expected cost.

Labor Quantity Variance

The difference between the actual labor hours used and the standard hours planned, multiplied by the standard hourly labor rate.

Predetermined Manufacturing Overhead Rates

A rate used to allocate manufacturing overhead costs to products based on a standard cost, established in advance of production.