The Process by Which Companies Find Out How Others Do

question 55

Short Answer

The process by which companies find out how others do something better than they do and then try to copy and/or improve it is known as _____.

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Definitions:

Materials Quantity Variance

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

September

The ninth month of the year in the Gregorian calendar.

Variable Overhead Efficiency Variance

A metric that assesses the difference between the actual hours worked and the standard hours expected, multiplied by the variable overhead rate.

Variable Overhead Efficiency Variance

is the difference between the actual variable overhead incurred and the standard cost allocated, based on the efficiency of utilizing resources.