Answer: a. reduced lead times
Explanation:
Lead time in a process refers to the amount of time it takes from the process's initiation to its conclusion. In general in Business, the shorter the lead time of a process, the better for the business as it usually leads to higher productivity, output and revenue levels.
Same goes for the reduction of lead times in transaction with vendors. With a shorter lead time, the process of making goods available for sale would be less and thus the goods can be sold in the market quicker therefore reducing inventory levels.
Answer:
actual quantity of the cost-allocation base used and the budgeted quantity of the cost-allocation base that should have been used to produce the actual output
Explanation:
The formula to calculate the variable overhead efficiency variance is shown below:
= (Standard quantity - actual quantity) ÷ budgeted variable overhead cost per unit
In the case when the standard quantity is more than the actual one so it is favorable else unfavorable
Therefore the last option is correct
And, the other options are wrong
It is True that China and the United States account for the nearly half the increase in the world oil demand.
