________ Is a Technique to Analyze and Sequence Tasks Involved

question 306

Multiple Choice

________ is a technique to analyze and sequence tasks involved in completing a project, to estimate the time needed to complete each task, and to determine the minimum amount of time needed to complete each project.

• A) PERT
• B) ECON
• C) LIFO
• D) GANTT

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Definitions:

Direct Labor-hours

The total hours worked by employees directly involved in the production process, used as a basis for allocating labor costs to products or job orders.

Variable Overhead Efficiency Variance

The difference between the expected (standard) and actual variable overhead costs based on the actual level of an activity.

Variable Manufacturing Overhead

The portion of manufacturing overhead costs that varies directly with the volume of production, such as utilities for machinery.

Variable Overhead Efficiency Variance

The difference between the actual variable overhead incurred and the standard cost of variable overhead allocated for the actual production achieved.