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When designing questionnaires, research has shown that the more ambiguous the questions, the more motivated the respondent will be to complete the questionnaire.
Favorable Variances
Differences between actual and budgeted or standard costs that result in better-than-expected financial performance.
Unfavorable Variances
Differences where actual costs are higher than standard or expected costs in budgeting.
Cost Variance
The difference between the estimated cost of a project or production and the actual cost incurred.
Standard Cost
A predetermined cost of manufacturing, established based on historical data, for the purpose of budgeting and performance evaluation.
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