Time and Effort Needed to Gather Experience on a Technology

question 25

Multiple Choice

Time and effort needed to gather experience on a technology or process are _____

• A) Direct Costs
• B) Indirect Costs
• C) Sunk Costs
• D) Learning Curve Costs
• E) Reserves Costs

---

Definitions:

Direct Labor Rate Variance

The difference between the actual cost of direct labor and the expected (or standard) cost, based on the hours actually worked.

Time Variances

The difference between actual time taken to perform an activity and the standard time expected.

Standard Labor Hours

The predetermined amount of time expected to be required to complete a specific task or job.

Actual Costs

The true, total costs incurred for processes or products, including all direct and indirect expenses.