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Variance Question

This topic has 3 replies, 3 voices, and was last updated 11 months ago by Ken Garrett.

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August 23, 2021 at 12:35 pm #632617
maximus07
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Which TWO of following are true statement relating to application of feedback and feedforward control.
A) Feedback and feedforward are both applied in budgetary planning and control.
B) Feedback is used in the analysis of variances.
C) Feedforward enables budgeted data for a period to be amended for the next period.
D) Feedforward relates to the setting of performance standards.

Answer is A and B.
What is D saying? Can you explain sir? If it is wrong so what could have been right statement for that.
August 23, 2021 at 7:12 pm #632660
Ken Garrett
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Feedforward is simply nothing to do with setting standards. D is rubbish. There is no ‘right’ statement for that.
August 24, 2021 at 4:30 am #632696
James124
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Tutor can you tell what performance standard are? Are they used to check peformance of labor?
August 24, 2021 at 5:29 am #632698
Ken Garrett
Keymaster
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They are targets for performance eg, how many errors are made or average time to complete a task.
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