Which of the following is an example of a direct materials efficiency standard?
A) $40 per direct labor hour
B) 50 square feet per unit
C) $0.95 per square foot
D) 6 direct labor hours per unit
B) 50 square feet per unit
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What is the most cost-effective way to minimize the cost of fraud?
a. Prevention b. Detection c. Investigation d. Prosecution
Answer the following statements true (T) or false (F)
1. Setting standards too high with strong incentives to get the reward and avoid the punishment can lead to resistance to control. 2. For standards to be complete, they must cover performance levels in quantity, quality, time, cost, and behavior. 3. Plans are the ends and objectives and standards are the means to those ends. 4. When controlling employee performance, the greater the employee’s capability, the less frequently you need to exert controls over that employee’s performance.
Thomas (2005) points out that individuals should become effective diversity respondents and should develop diversity maturity. With those ideas in mind, as an individual in an organization, how can you contribute to creating an inclusive workplace? What leadership skills would you need to make the changes?
What will be an ideal response?
Firms that focus on cost leadership tend to find the lowest-cost location might
A) locate far from their customers. B) locate in a higher cost area to provide faster response. C) have many facilities to take advantage of economies of scale. D) increase inventory levels to reduce stockouts.