The Technique of ________ Uses Three Columns That Allow the Entrepreneur

question 69

Multiple Choice

The technique of ________ uses three columns that allow the entrepreneur to weigh both the advantages and the disadvantages of a particular decision and work to maximize the variables that support it while minimizing those that work against it.

• A)force-field analysis
• B)TRIZ
• C)brainstorming
• D)mind mapping

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Definitions:

Labor Rate Variance

The difference between the actual cost of labor and the expected (or standard) cost, often used in manufacturing to measure efficiency and cost management.

Favorable

A term typically used in budgeting and accounting to describe variances or outcomes that are better than expected or budgeted figures.

Variable Overhead Rate Variance

The difference between the actual variable overhead incurred and the standard variable overhead estimated.

Variable Overhead Efficiency Variance

The difference between the actual hours taken to produce a good and the standard hours expected, multiplied by the variable overhead rate.