What term is used to describe the level of efficiency achieved that appropriately trained, motivated and resourced employees can achieve in the long-run?

Related MCQs

• What term best describes the use of both financial and non-financial measures in assessing whether an entity has achieved its objectives?
• Lean manufacturing can be achieved by using-----------
• In August actual material used amounted to 5,650 kg, budgeted output was 1,000 units and standard material usage was 5 kg per unit. Actual output was 1,075 units. If the standard material cost of each product is 25 the material efficiency variance will be:
• The efficiency ratio can be defined as:
• To produce a particular batch of product, Falcon Corporation paid its workers 12.00 per hour for 4,000 hours of work. The standards for the quantity of work represented by the batch were 12.50 per hour and 4,400 hours. What was the labour efficiency variance?
• An adverse labour efficiency variance together with a favourable labour rate variance may mean that:
• Which of the following equations can be used to calculate a material price variance?
• Which of the following equations can be used to calculate a material quantity variance?
• Which of the following method of costing can be used in a large oil refinery?
• What term is given to the idea that traditional budgeting should be replaced by a new type of budgeting?