In Order to Establish a Basis from Which to Calculate

question 84

Multiple Choice

In order to establish a basis from which to calculate a schedule using the estimated durations for the activities, it is necessary to

• A) say who has responsibility for the first task.
• B) enter the tasks into a project management information system.
• C) select an estimated start time and a required completion time for the overall project.
• D) edit the calendars for the resources in the project management information system.

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Definitions:

Variable Costs

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

Fixed Costs

Costs that do not change with the level of output or sales, such as rent or salaries.

Profit-Maximizing

The operational method a firm adopts to calculate the pricing and output that bring in the highest profit.

Average Total Costs

The total cost of production divided by the quantity of output produced, illustrating the cost per unit of output.