The Following Labor Standards Have Been Established for a Particular

question 323

Multiple Choice

The following labor standards have been established for a particular product: The following data pertain to operations concerning the product for the last month:
What is the labor rate variance for the month?

• A) $195 Favorable
• B) $1,545 Favorable
• C) $1,545 Unfavorable
• D) $195 Unfavorable

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Definitions:

Performance Appraisal

The process of evaluating an employee's performance at work, typically to guide decisions on promotions, pay raises, and training needs.

Behaviorally Anchored Rating Scale

A method for evaluating employee performance based on specific behavioral examples that represent different levels of achievement.

Performance Appraisal

A systematic evaluation of an employee's job performance and productivity, typically conducted by their supervisor or manager, to inform decisions about promotions, raises, and training.

Forced Distribution Method

A performance evaluation method that assigns a certain percentage of employees to predetermined categories, such as high, average, or low performers, often resulting in a bell curve distribution.