The BSC Method Is "Balanced" Because It Relies on Both

question 39

True/False

The BSC method is "balanced" because it relies on both leading and lagging financial measures.

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Definitions:

Labor Cost Variance

The difference between the actual labor costs incurred and the standard labor costs for the actual production achieved; it is used for monitoring labor performance.

Standard Cost

A predetermined cost of manufacturing, purchasing, or using a product or service, used in budgeting and variance analysis.