In Earned Value Management,schedule Variance Is Defined As

question 16

Multiple Choice

In earned value management,schedule variance is defined as:

• A)The difference between the earned value and the actual cost.
• B)The difference between the earned value and the planned value.
• C)The difference between the actual cost and the planned value.
• D)The difference between the cost and schedule performance indices multiplied by the budgeted cost at completion.

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Definitions:

Fixed Manufacturing Overhead

The portion of manufacturing overhead costs that remains constant regardless of the level of production or output volume.

Variable Cost

Costs that vary directly with the level of production or sales volume, such as materials and labor directly involved in manufacturing.

Annual Wheel Needs

The total requirement for wheels within a one-year period, usually in the context of manufacturing or automotive maintenance.

Intermediate Products

Products that are in a semi-finished state; they require further processing before becoming final goods sold to the end consumer.