Standard costs embody targets. The targets should:
A. be very easy to achieve so everyone gets rewarded
B. reflect ideal performance so the company can measure efficiency losses
C. be used to evaluate performance and assign blame
D. reflect a particular management team's goals
E. none of the above
D. reflect a particular management team's goals
Firms rely on standard costs for various reasons. Targets set within the firm should reflect the goals of management. Standards are used in evaluating performance so that corrective actions can be taken to improve efficiencies, rather than for assigning blame.
You might also like to view...
________ involves measuring the extraneous variables and adjusting for their effects through statistical analysis
A) Design control B) Statistical control C) Randomization D) Matching
Table 6.2 in the text provides a comparative evaluation of survey methods. Which two methods are shown as low on the quantity of data criteria?
A) traditional telephone interviews; computer assisted telephone interviews (CATI) B) in-home interviews; mall intercept interviews C) Internet; mall intercept interviews D) computer assisted telephone interviews (CATI); mall intercept interviews
A criticism of the individualistic/collectivistic paradigm is which of the following?
a. It is not applied equally to all cultures. b. It does not allow for both individualistic and collectivistic values to coexist in the same culture. c. It only measures qualitative variables. d. Quantitative variables are only allowed for the individualistic cultures.
Answer the following statements true (T) or false (F)
1. The Taft-Hartley Act makes it illegal for workers (or their unions) to engage in boycotts. 2. As a result of a labor dispute with WaveMakers (a boat manufacturing company), the union organizes a national boycott of WaveMaker boats. When the boycott proves to be unsuccessful in pressuring WaveMakers to concede to the union demands, the union extends its boycott to several other boat manufacturers, hoping they will influence WaveMakers to settle. This action is legal under the Taft-Hartley Act. 3. It is legal for a union and management to negotiate a contract that requires the employer to hire only union workers. 4. The right-to-work provision in Taft-Hartley allows states to pass laws that prohibit unions and management from negotiating union or agency shop agreements. 5. After a successful union organizing attempt at a manufacturing plant in Tennesse, the owners refuse to bargain an initial contract with the union, arguing the state's right-to-work law allows them to "refuse" union representation. The employer's interpretation of the law is correct.