Which of the Following Is NOT One of the Project

question 7

Multiple Choice

Which of the following is NOT one of the Project Procurement Management processes outlined in the PMBOK Guide?

• A)Plan Procurements
• B)Conduct Procurements
• C)Administer Procurements
• D)Plan Exit Strategy
• E)Close Procurements

Recognize the importance of overhead application in cost accounting.

Determine the total manufacturing cost variance and its components.

Analyze the reasons behind separating standard costs into price and quantity components.

Understand the concepts of direct materials quantity variance and factors affecting it.

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Definitions:

Food

Any nutritious substance that people or animals eat or drink or that plants absorb to maintain life and growth.

Supplies

Items used in the operations of a business, usually not directly part of the finished product but necessary for production or administrative tasks.

Spending Variance

The difference between the actual amount of money spent and the budgeted or expected amount in cost accounting, often related to manufacturing costs.

Supplies Costs

The amount spent on obtaining various materials and goods necessary for the operation of a business.