Shahzad Is an HR Consultant at a Hospital

question 62

Multiple Choice

Shahzad is an HR Consultant at a hospital.Three of the five senior managers will be retiring in the next 18 months.His HR Director has asked him to plan ahead for these vacancies by reviewing their managerial inventory.What is the name of this process?

• A)effective recruitment policies and systems
• B)career tracking
• C)succession planning
• D)effective selection and placement strategies
• E)training and development

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Definitions:

Direct Labor Variances

The difference between the expected (standard) cost of direct labor for actual production and the actual cost incurred.

Direct Labor

Direct labor involves the work of employees who are directly involved in producing goods or services, being a key factor in manufacturing costs.

Labor Efficiency Variance

The discrepancy in the actual worked hours versus the expected standard hours, multiplied by the standard rate for labor.

Direct Labor

The labor costs directly associated with the manufacture of specific goods or the provision of services, typically consisting of wages paid to production workers or technicians.