When utilizing weighting, categories underrepresented in the sample receive lower weights, whereas overrepresented categories receive higher weights

The time value of money refers to the fact that a dollar received today is worth less than a dollar promised at some time in the future.

a. true b. false

Cavalaris Products uses a standard cost system

Overhead costs are allocated based on direct labor hours. In the first quarter, Cavalaris had an unfavorable cost variance for variable overhead costs. Which of the following scenarios is a reasonable explanation for this variance? A) The actual number of direct labor hours was lower than the budgeted hours. B) The actual variable overhead costs were higher than the budgeted costs. C) The actual variable overhead costs were lower than the budgeted costs. D) The actual number of direct labor hours was higher than the budgeted hours.