Ralph Is Creating His First Time Management Plan

question 1

Multiple Choice

Ralph is creating his first time management plan.He has learned that the basic elements of a time management plan include all of the following EXCEPT:

• A)Daily event schedule
• B)Organization of critical information.
• C)Life priorities lists.
• D)Weekly/monthly planning calendar.

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Definitions:

Direct Material Cost

The cost of raw materials and components that are directly used in the production of a product.

Labor Quantity Variance

The difference between the actual hours worked and the standard hours allowed for the work performed, multiplied by the standard hourly wage rate.

Produced

The completed output of goods or services as a result of manufacturing or production processes.

Materials Price Variance

The difference between the actual cost of materials used in production and the expected (or standard) cost of those materials.