Managers Have to Unlearn Old Ideas and Test Decision- Making

question 30

Multiple Choice

Managers have to unlearn old ideas and test decision- making skills by not:

• A)listening to good news and suppressing bad news.
• B)converting events into learning opportunities.
• C)encouraging diversity.
• D)listening to dissenters.

---

Definitions:

Fixed Overhead Volume Variance

The difference between the budgeted and actual volume of production, multiplied by the fixed overhead rate, indicating inefficiencies in utilizing production capacities.

Direct Labour Hours

A measure of the amount of time workers spend directly manufacturing a product, which is often used to allocate manufacturing overhead in product costing.

Standard Costing System

An accounting method that uses estimated costs for planning and decision-making purposes.

Variable Overhead Spending Variance

The difference between the actual variable overhead costs incurred and the expected costs based on standard rates.