A Key Part of Reuse Strategy Is

question 72

Multiple Choice

A key part of reuse strategy is:

• A) expending capital on equipment.
• B) hiring the right staff.
• C) establishing standards and guidelines for reuse.
• D) establishing rewards, incentives and organizational support.
• E) buying the right software.

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Definitions:

Price Standard

A predetermined cost that serves as a benchmark for evaluating the actual cost of goods sold or production costs.

Pounds

A unit of mass or weight commonly used in the British imperial and United States customary systems.

Materials Price Variance

The difference between the actual cost and the standard cost of materials used in production, multiplied by the quantity of materials used.

Standard Price

A pre-determined cost assigned to goods and services, used as a benchmark in budgeting and variance analysis.