Table 7.14 You Are Responsible for Managing a Project with the Following

question 132

Multiple Choice

Table 7.14
You are responsible for managing a project with the following activities (times are given in weeks) .

-Using Table 7.14, what is the critical path and expected completion time for this project?

• A) D-E; 29.5 weeks
• B) A-B-C; 25 weeks
• C) D-E; 27.5 weeks
• D) A-B-C; 26.5 weeks

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Definitions:

Opportunity Cost

The expense incurred by not choosing the second-best option available during decision-making.

Product Costs

The total costs directly involved in manufacturing a product, including material, labor, and overhead expenses.

Period Costs

Expenses that are not directly tied to the production process and are typically accounted for as expenses in the period they are incurred.

Contribution Margin

The amount by which sales revenue exceeds variable costs, contributing to the coverage of fixed costs and profit generation.