The Sum of the Activity Times on the Critical Path

question 14

Multiple Choice

The sum of the activity times on the critical path determines _____________________.

• A) total slack available
• B) total labor time required for the project
• C) minimum time to complete the project
• D) the number of milestones
• E) amounting of crashing that needs to be done

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Definitions:

Materials Price Standard

The predetermined cost of materials that should be incurred under efficient operating conditions.

Predetermined Overhead Rate

A rate calculated before a period begins, used to allocate estimated overhead costs to products or services based on a chosen activity base.

Standard Activity Index

A benchmark used to measure the amount of activity, productivity, or performance in a given scenario, often compared to an industry standard.

Budgeted Overhead Costs

The estimated costs related to the indirect aspects of manufacturing or service delivery that are planned for a specific period.