Examlex
An advantage of PERT diagrams is the easy determination of slack time.
Standard Hours
The predetermined amount of time expected to complete a unit of work or job, serving as a benchmark for productivity and performance measurement.
Actual Output
The real quantity of goods or services produced by a company during a specific period.
Labour Efficiency Variance
The difference between the actual labor hours worked and the standard hours planned, multiplied by the standard labor rate.
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