The Single Most Common Form of Reinforcement Schedule Is

question 72

Multiple Choice

The single most common form of reinforcement schedule is:

• A)fixed interval
• B)variable ratio
• C)continuous
• D)fixed ratio
• E)variable interval

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Definitions:

Direct Labor Time Variance

The cost associated with the difference between the actual hours and the standard hours of direct labor spent producing a commodity multiplied by the standard direct labor rate per hour.

Actual Costs

The real costs incurred in the production of goods or providing services, as opposed to estimated or standard costs.

Standard Costs

Standard costs are predetermined costs to manufacture a single unit or a number of units of a product during a specific period under current or anticipated conditions.

Direct Materials Price Variance

The difference between the actual cost of direct materials used in production and the expected (standard) cost of those materials.