Program Evaluation Review Technique (PERT)/Critical Path Method (CPM)and Gantt Charts

question 50

True/False

Program Evaluation Review Technique (PERT)/Critical Path Method (CPM)and Gantt charts are mutually exclusive techniques.

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Definitions:

Materials Quantity Variance

Materials Quantity Variance is the difference between the expected amount of materials to produce a given output and the actual amount of materials used, highlighting efficiency in material usage.

Variable Overhead

Expenses that vary with production volume, such as utility costs in a factory.

Standard Costs

Predetermined or estimated costs for a product or service, used for budgeting purposes and as a benchmark for measuring performance.

Materials Price Variance

A measure of the difference between the actual cost of materials and the expected cost, based on the standard price.