Redundancy Is the Storing of a Piece of Data in More

question 5

True/False

Redundancy is the storing of a piece of data in more than one place.

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Definitions:

Standard Labour Rate

The predetermined wage rate used for budgeting and variance analysis, representing the expected cost per hour of labor.

Standard Labour Hours

The predetermined amount of labor time that is expected to be necessary to produce one unit of a product or complete a process.

Material Price Variance

The difference between the actual cost of materials and the standard cost, multiplied by the quantities purchased.

Standard Quantity

The preset amount of materials or inputs theoretically required to produce a single unit of product under normal operating conditions.