The function of setting the limits or levels of manufacturing operations based on the market plan
and resource availability is called:
A) capacity planning.
B) production activity level.
C) production planning.
D) all of the above
E) none of the above
C
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Melissa Antiques Company has collected the following data for one of its products
Direct materials standard (3 pounds @ 1/lb.) $3 per unit Direct materials flexible budget variance-unfavorable $15,500 Actual direct materials used 101,000 pounds Actual units produced 18,000 units What is the direct materials efficiency variance? A) $18,000 U B) $47,000 F C) $47,000 U D) $18,000 F
Susan's health insurance coverage cannot be canceled, is guaranteed renewable to age 65, and under no circumstances can her premium be increased. What type of renewal provision is found in Susan's health insurance coverage?
(a) renewable at the insurer's option (b) conditionally renewable (c) guaranteed renewable (d) noncancelable