Which of the Following Sections Is Not Considered a Part

question 21

Multiple Choice

Which of the following sections is not considered a part of a federal agency's performance and accountability report?

• A) Basic financial statements.
• B) Annual performance report.
• C) Statistical section.
• D) Management's discussion and analysis.

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Definitions:

Direct Labour Hours

The total number of hours worked by employees directly involved in the production of goods or services.

Labour Efficiency Variance

The difference between the actual labor hours used and the standard labor hours expected to produce a certain level of output.

Standard Labour Rate

The predetermined or expected cost per unit of labor, used in budgeting and cost control.

Variable Overhead Efficiency Variance

The difference between the actual level of activity (direct labor-hours, machine-hours, or some other base) and the standard activity allowed, multiplied by the variable part of the predetermined overhead rate.