A ______________________ Is Typically Conducted as Part of a Formative

question 25

Multiple Choice

A ______________________ is typically conducted as part of a formative evaluation in order to identify the essentials for a program among the target population.

• A) performance evaluation
• B) needs assessment
• C) cost-effectiveness analysis
• D) cost-benefit analysis

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Definitions:

Labor Efficiency Variance

The difference between the actual hours worked to produce goods and the standard hours expected, multiplied by the standard labor rate, indicating efficiency in labor use.

Material Price Variance

The variance between the real price paid for materials and their anticipated (standard) price.

Material Quantity Variance

The difference between the actual quantity of materials used in production and the standard quantity expected, multiplied by the standard cost per unit.

Labor Rate Variance

The difference between the actual cost of labor and the budgeted or standard cost, attributable to paying a higher or lower wage rate than anticipated.