Chapter 14 Notes - Chapter 14 Notes: Operational...

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Chapter 14 Notes: Operational Performance Measurement: Sales, Direct-cost variances, & the Role of Nonfinancial Performance Measures Authoritative standard: determined solely or primarily by management. continuous-improvement standard: one that gets progressively tighter over time. control: refers to the set of procedures tools and systems organizations use to reach their goals currently attainable standard: sets the performance criterion at a level that a person with proper training & experience can attain most of the time without having to exert extraordinary effort. customer-response time (CRT): a measure of operating performance defined as the elapsed time between the time a customer places an order and the time the customer receives the order. direct labor efficiency variance direct materials flexible-budget variance direct materials purchase price variance direct materials usage variance financial control: consists of a comparison between actual and budgeted financial results flexible budget variance
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This note was uploaded on 03/10/2012 for the course ACCOUNTING 5450 taught by Professor Brown during the Spring '12 term at Colorado Technical University.

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Chapter 14 Notes - Chapter 14 Notes: Operational...

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