If Every Technology Officer Working for Your Organization Reported to You

question 41

Multiple Choice

If every technology officer working for your organization reported to you, your title would be _____.

• A) CTO (chief technology officer)
• B) CSO (chief security officer)
• C) CIO (chief information officer)
• D) CPO (chief privacy officer)

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Definitions:

Standard Cost System

A cost accounting system that uses predetermined costs for materials, labor, and overhead charges to control actual costs and measure variances.

Material Variances

Material variances are differences between the actual costs of materials and the expected (or standard) costs.

Cost Variances

The difference between actual costs and standard or budgeted costs in business operations.

Standard Manufacturing Costs

The predetermined cost of manufacturing a single unit, including direct labor, direct materials, and manufacturing overhead, under normal conditions.