An Effective Business Plan Should Be About _____

question 51

Multiple Choice

An effective business plan should be about _____.

• A) 25 to 30 pages long or less
• B) 40 to 50 pages long
• C) 50 to 65 pages long
• D) 70 to 75 pages long or more

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Definitions:

Labor Efficiency Variance

The variance between the number of hours actually worked and the anticipated standard hours, times the normal rate per hour.

Labor Rate Variance

A metric used to measure the difference between the actual rate paid to workers and the expected (or standard) rate.

Direct Labor

The labor cost attributed directly to the production of goods or services.

Standard Cost

A predetermined cost of manufacturing a single unit or a number of units of a product, calculated for managerial accounting purposes.