List the Elements of an Information Technology System Used to Help

question 162

Essay

List the elements of an information technology system used to help answer marketing questions.

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Definitions:

Direct Labor Time Variance

The difference between the actual hours worked and the standard hours allowed for the work done, multiplied by the standard labor rate.

Direct Labor

The cost of wages for employees who directly manufacture or produce goods.

Unfavorable

A term used to describe outcomes or variances that negatively impact a business financially or operationally.

Direct Materials Quantity Variance

The difference between the actual quantity of materials used in production and the standardized expected quantity, valued at the standard cost per unit.