As Part of the Bidding Process Required for Bidding on Providing

question 95

Multiple Choice

As part of the bidding process required for bidding on providing a new software system to Kinect Incorporated,Thorton Wilder prepared a functional program that simulated the new system's input and output interface.This program is an example of

• A)CASE.
• B)an operational prototype.
• C)a RFP.
• D)a nonoperational prototype.

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Definitions:

Material Quantity Variance

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

Standard Costing

An accounting method that uses predetermined costs for product costing, performance evaluation, and decision making.

Labour Efficiency Variance

A metric that measures the difference between the actual labor hours used in production and the standard or expected hours, often indicating labor performance.

Variable Overhead

Indirect production costs that fluctuate with the level of production output, such as utilities for the manufacturing plant.