Which Type of Planning Tool Shows Each Task as a Horizontal

question 75

Multiple Choice

Which type of planning tool shows each task as a horizontal bar whose length is proportional to the time required to complete it?

• A)PERT chart
• B)Gantt chart
• C)both A and B
• D)neither A nor B

Understand the limitations and advantages of using CPI and other indices for measuring inflation.

Understand the process of calculating the Consumer Price Index (CPI).

Calculate inflation rates using CPI data.

Appreciate the differences between nominal and real values, and their implication for standards of living.

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Definitions:

Direct Materials Cost Variance

The difference between the budgeted cost of materials and the actual cost used in production.

Materials Cost

The expense incurred for the raw materials that are used in the production of goods or services.

Yards Per Unit

A measurement used to indicate the amount of yardage (length in yards) of material required or utilized per unit of production.

Direct Labor Variances

The differences between the budgeted or standard costs of direct labor and the actual costs incurred, which can indicate efficiencies or inefficiencies in labor usage.