Multiple Choice
A product blank______ is a specific product that has a unique brand, size, or price. Which term best completes the sentence?
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1. Introduction to Accounting
Types of Accounting
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The labor efficiency variance is generally the responsibility of the ______ manager.
A
production
B
finance
C
sales
D
purchasing
Verified step by step guidance1
Understand the concept of labor efficiency variance: It measures the difference between the actual hours worked and the standard hours allowed for the actual production level, multiplied by the standard labor rate.
Identify the role of the production manager: The production manager is responsible for overseeing the efficiency of labor and ensuring that workers complete tasks within the expected time frame.
Relate labor efficiency variance to production management: Since this variance is directly tied to how efficiently labor is utilized in the production process, it falls under the responsibility of the production manager.
Eliminate other options: Finance managers focus on financial planning and reporting, sales managers handle customer relationships and revenue generation, and purchasing managers oversee procurement of materials. None of these roles directly impact labor efficiency.
Conclude that the correct answer is 'production manager' because they are responsible for managing labor efficiency in the production process.
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