The _____ Function Requires Monitoring Performance So That It Meets

question 90

Multiple Choice

The _____ function requires monitoring performance so that it meets the performance standards established by the organization.

• A)controlling
• B)leading
• C)planning
• D)organizing
• E)job design

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Definitions:

Materials Quantity Variance

The difference between the actual quantity of materials used in production and the expected quantity, valued at standard cost.

Favorable

A term used in variance analysis indicating that actual costs were lower than budgeted or standard costs, leading to higher profits.

Unfavorable

A term used in variance analysis to describe a situation where actual results are worse than expected results, often leading to a negative impact on financial performance.

Raw Materials Price Variance

This variance highlights the difference between the actual cost of raw materials used in production and the standard or expected cost.