Which of the Following Does Planning Involve in an Organization

question 68

Multiple Choice

Which of the following does planning involve in an organization?

• A) Establishing task relationships that allow people to work together
• B) Developing strategies for how to achieve high performance
• C) Motivating individuals to achieve organizational goals
• D) Establishing accurate measuring and monitoring systems
• E) Measuring how well the organization has achieved its goals

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Definitions:

Materials Quantity Variance

The difference between the actual quantity of materials used in production and the expected quantity, multiplied by the standard cost per unit.

Variable Overhead Efficiency Variance

The difference between the actual variable overhead incurred and the standard cost allocated for the actual production achieved.

Labor Rate Variance

The difference between the actual cost of direct labor and the expected (or budgeted) cost, based on standard rates and actual hours worked.

Materials Price Variance

The difference between the actual cost of materials purchased and the expected (or standard) cost, used to assess cost management performance in procurement.