Unlike the Dictionary of Occupational Titles, Which Described Approximately 1,000

question 70

True/False

Unlike the Dictionary of Occupational Titles, which described approximately 1,000 occupations, O * NET lists some 12,000 jobs.

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Definitions:

Direct Materials Price Variances

The difference between the actual cost of direct materials and the standard cost, used to measure cost management efficiency.

Quantity Variances

Differences between the expected and the actual amount of materials, labor, or overhead used in production.

Standard Costs

Predetermined costs to manufacture a single unit or a number of units of a product during a specific period.

Direct Materials Used

Raw materials directly utilized in the production of goods, traceable to the finished product.