One of the Advantages of the Standard Deviation Over the Variance

question 33

True/False

One of the advantages of the standard deviation over the variance as a measure of variability is that the standard deviation is measured in the original units.

Appreciate the managerial implications of variances and the principle of exceptions in decision-making.

Understand the separation of standard costs into two components for detailed variance analysis.

Recognize the need for updating standard costs in response to changes in production specifications, labor contracts, and material costs.

Understand the concept and calculation of direct labor variances, including rate and time variances.

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