______ Is the Continuous Monitoring of Shortages or Sudden Changes

question 52

Multiple Choice

______ is the continuous monitoring of shortages or sudden changes in the quality of materials.

• A)Exception management
• B)Performance assessment
• C)Strategy management
• D)Performance control

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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.