In the Context of Controlling, the Size of the Difference

question 72

Multiple Choice

In the context of controlling, the size of the difference between actual performance and a performance standard is referred to as

• A) exception metric.
• B) measurement error.
• C) variance.
• D) critical path.

---

Definitions:

Job Cost Sheet

A form used to record the costs chargeable to a specific job and to determine the total and unit costs of the completed job.

Quantity Data

Information measured in numbers or amounts, often used to analyze and compare performance or production levels.

Just-In-Time Processing

A production strategy that aims to reduce in-process inventory and associated carrying costs by producing goods only as they are needed in the production process.

Raw Materials

Basic substances in unprocessed or minimally processed states used as the input for manufacturing or production.