What Variance Does the Difference Between the Actual Cost of the Direct

question 74

Multiple Choice

What variance does the difference between the actual cost of the direct labour hours worked and the planned cost of the direct labour hours measure?

• A)The direct labour efficiency variance.
• B)The direct labour rate variance.
• C)The total direct labour variance.
• D)None of the above.

Identify different scenarios such as HR gap in human capital management.

Explain the process and steps involved in HR forecasting.

Appreciate the significance of strategic human capital management for competitive advantage.

Understand the terminology used in HR forecasting, such as projection and envelope.

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Definitions:

Low Arousal

A state characterized by calmness and a lack of high energy or excitement.

Pleasant Emotion

Feelings that are enjoyable or pleasing, such as happiness, joy, or contentment.

Hedonic Treadmill

A theory proposing that people stay at about the same level of happiness regardless of what happens to them.

Pessimistic Outlook

A tendency to expect the worst possible outcome or dwell on the most negative aspects of a situation.