The ____ Is a Comprehensive Management Control System That Balances

question 86

Multiple Choice

The ____ is a comprehensive management control system that balances traditional financial measures with operational measures relating to a company's critical success factors.

• A) benchmarking
• B) balanced scorecard
• C) management control system
• D) Six Sigma

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Definitions:

Overhead Efficiency Variance

The difference between flexible budgets using actual volume and standard volume. It is an estimate of the additional overhead incurred.

Direct Labor Hours

The total amount of time workers spend directly manufacturing a product or providing a service.

Mix Variance

Captures the effect of substitution among the products, holding constant the number of units sold.

Direct Labor

The cost associated with employees who are directly involved in the production of goods or services.