The Total Manufacturing Cost Variance Consists Of

question 145

Multiple Choice

The total manufacturing cost variance consists of:

• A) Direct materials price variance, direct labor cost variance, and fixed factory overhead volume variance
• B) Direct materials cost variance, direct labor rate variance, and factory overhead cost variance
• C) Direct materials cost variance, direct labor cost variance, variable factory overhead controllable variance
• D) Direct materials cost variance, direct labor cost variance, factory overhead cost variance

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Definitions:

Performance Measures

Indicators or metrics used to evaluate and assess the efficiency, effectiveness, and performance of individuals, groups, or organizations.

Performance Management

The process of ensuring that an organization's resources are being used most efficiently to achieve its goals, including employee performance.

Validity

Validity refers to the degree to which a test, tool, or research accurately measures or evaluates what it is intended to measure or evaluate.

Rating Scale

A tool used for evaluating or assessing the performance, attitude, or characteristics of individuals or objects, typically ranging from low to high or poor to excellent.