Managerial Innovations Are Innovations That Have Been Developed by an Organization's

question 266

True/False

Managerial innovations are innovations that have been developed by an organization's managers.

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Definitions:

Variable Manuf. Overhead

Indirect, variable costs incurred during the manufacturing process, excluding direct labor and direct materials.

Labour Efficiency Variance

The difference between the actual labor hours used and the standard labor hours expected, multiplied by the standard labor rate.

Direct Labour Used

The total effort, measured in hours or costs, of workers directly involved in the manufacturing process of a product.

Variable Manuf. Overhead

Costs that vary with production volume, such as utilities and materials used in manufacturing.