TB Figure 15

question 63

Essay

TB Figure 15.5 displays a Level 0 DFD - Cost Accounting: Variance Analysis.Match the items in the following alphabetical list to the missing items (A - J) in the diagram.1.Budgets master data
6.Employee/payroll master data
2.Close manufacturing orders
7.General ledger process
3.Compute MOH variances
8.GL standard costs applied update
4.Compute RM quantity variance
9.Inventory process
5.DL variance report
10.Production work centers

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Definitions:

Resource Allocation

The process of allocating resources, including capital, labor, and materials, among competing uses or projects in an efficient manner.

Production Possibilities Curve

The Production Possibilities Curve (PPC) is a model that shows the various combinations of two goods or services that an economy can produce, given its resources and technology, illustrating the concept of opportunity cost.

Unemployment Rate

The percentage of the labor force unemployed at any time.

Technological Advance

The development and application of innovative processes, equipment, or software that enhances productivity, efficiency, or quality.