What Is Food Supply Chain Management in the Broadest and Simplest

question 5

Multiple Choice

What is food supply chain management in the broadest and simplest sense?

• A) the process of getting food products from producers to consumers safely
• B) the process of getting food products from consumers to producers safely
• C) Managing employees in a national chain restaurant
• D) Monopolizing the commodities market to reduce competition

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Definitions:

Volume Variance

Volume variance measures the difference between the expected production volume and the actual production volume, impacting the budget and operational efficiency.

Standard Direct Labour Rate

The predetermined cost per hour for direct labor, used in budgeting and measuring operational efficiency.

Fringe Benefits

Additional compensation provided to employees beyond their normal wages or salaries, such as health insurance, retirement plans, and paid vacations.

Standard Costing System

An accounting method that assigns predetermined costs to goods and services, used to control costs and measure performance.