Performance Appraisals Are Used for a Variety of Purposes Within

question 62

Essay

Performance appraisals are used for a variety of purposes within an organization.Describe how companies can best utilize the performance appraisal too.

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Definitions:

Variance Measured

The process of determining the difference between expected and actual performance, costs, or revenues for the purpose of financial analysis and control.

Variable Overhead

Overhead costs that fluctuate with the level of production output, such as utilities for machinery or costs for raw materials.

Direct Labour Hour

A measure of the amount of time a worker spends on direct production activities.

Flexible Budget

A budget that adjusts or flexes with changes in volume or activity levels within a business.