A Key Part of Developing Your Managerial Skills Would Be

question 6

Multiple Choice

A key part of developing your managerial skills would be to

• A) forget about practice as soon as you acquire a skill.
• B) practice kick boxing to sharpen your reflexes.
• C) obtain feedback on your performance.
• D) ignore the comments of others on how well you are doing.

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Definitions:

Labour Time Standard

A benchmark or norm established for the amount of time required to perform a specific task or activity under normal working conditions.

Direct Material Price Variance

The difference between the actual cost of direct materials and the expected (or standard) cost.

Direct Labour Rate Variance

The difference between the actual cost of direct labor and the expected (or standard) cost, based on the standard wages paid for that labor.

Direct Labour Efficiency Variance

A measure used in management accounting to assess the difference between the actual hours worked and the standard hours expected to produce a certain level of output.