A Product Layout Is

question 39

Short Answer

A product layout is
a spatial arrangement of production activities designed to make one type of product in a fixed sequence.
a spatial arrangement of production activities that groups equipment and people according to function.
a method for analyzing a service by showing the flow of processes that constitutes it.
a spatial arrangement of production facilities designed to move families of products through similar flow paths.
a production system in which a single factory uses automation to produce a wide variety of products.

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Definitions:

Materials Quantity Variance

The variance between the real amount of materials utilized in manufacturing and the anticipated standard amount, times the standard unit cost.

Overhead Variance

The difference between the actual overhead costs incurred and the standard or expected overhead costs.

Direct Materials Price Variance

Direct materials price variance is the difference between the actual cost of direct materials and the standard cost, showing how much more or less was spent on purchasing materials.

Direct Labor Quantity Variance

The difference between the actual hours worked and the standard hours allowed, multiplied by the standard rate, indicating efficiency in labor usage.