In Order to Make Change Permanent, the Organization May Benefit

question 25

Multiple Choice

In order to make change permanent, the organization may benefit from sharing the results of the change effort with:

• A) Employees
• B) Managers
• C) Customers
• D) Board members

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Definitions:

Standard Costs

Pre-determined or estimated costs used for planning and control purposes, often used to measure performance by comparing them with actual costs.

Direct Labour

The wages and other compensation paid to employees who are directly involved in producing goods or providing services.

Labour Rate Variance

The difference between the actual cost of labor and the expected (or standard) cost of labor for the actual production level.

Labour Efficiency Variance

A measure used in accounting to indicate the difference between the actual number of labor hours used and the standard number of hours that should have been used, multiplied by the standard labor rate.