In Terms of System Thinking, What Is Output

question 197

Multiple Choice

In terms of system thinking, what is output?

• A) Data entered in a computer
• B) Controls to ensure correct processes
• C) The resulting information from the computer program
• D) The computer program that processes the data

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Definitions:

Labour Efficiency Variance

The difference between the actual hours worked and the standard hours allowed for the work performed, multiplied by the standard labor rate.

Labour Rate Variance

A measurement of the difference between actual labor costs and what those costs should have been according to standard rates.

Quantity Standards

Quantity standards refer to the specified amount of materials, labor, and overhead that should be used for producing one unit of goods, serving as benchmarks for measuring efficiency.

Standard Costing

A cost accounting method that assigns expected costs to products, which are then compared with actual costs to measure performance.