In Weighted Goal Programming,the Objective Is To

question 12

Multiple Choice

In weighted goal programming,the objective is to:

• A)Minimize the weighted sum of deviations from the goals
• B)Minimize the deviation from the most important goal
• C)Meet the most important goal
• D)Maximize the profit
• E)None of the above

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Definitions:

Labor Efficiency Variance

The difference between the actual hours worked and the standard hours allowed, multiplied by the standard labor rate, indicating efficiency in labor usage.

Direct Labor Standards

The predetermined amount of labor time and cost that it should ideally take to produce one unit of a product, used for budgeting and performance evaluation.

Actual Direct Labor Cost

The total expense incurred from the wages and associated benefits of workers directly involved in the manufacturing of a product.

Total Standard Cost

The total budgeted cost for manufacturing a product, based on standard prices and quantities for input.