The Period That Can Be Considered a "Proof of Concept

question 35

Multiple Choice

The period that can be considered a "proof of concept" time was the:

• A) 1950s.
• B) 1960s.
• C) 1970s.
• D) 1990s.

---

Definitions:

Variable Cost

Costs that vary directly with the level of production or output, such as materials and labor used in the production process.

Flexible Budget

A budget that adjusts or flexes with changes in volume or activity, providing a more useful comparison for actual versus budgeted performance.

Budgeted Costs

Estimated financial plan for expenditures over a specified period.

Direct Labor Hours

This term represents the total time spent by workers directly involved in the manufacturing process.