An Example of a SMART Goal Is

question 50

Multiple Choice

An example of a SMART goal is

• A)Do your best, but be sure to finish before our next meeting.
• B)Have it done by Friday and use the correct font this time.
• C)Complete your draft proposal for reorganizing the warehouse by Friday; we will review it then and make plans to finalize.
• D)Complete the report as soon as possible.
• E)By Friday, I want to see progress on the warehouse proposal.

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Definitions:

Direct Labor Standards

The expected labor time and cost that should be incurred under normal conditions to produce a unit of output.

Labor Rate Variance

The difference between the actual cost of direct labor and the estimated cost of direct labor at standard rates for the production achieved.

Labor Efficiency Variance

The difference between the actual hours worked to produce goods and the standard hours expected, multiplied by the standard labor rate, indicating efficiency in labor use.

Material Price Variance

The variance between the real price paid for materials and their anticipated (standard) price.