A favorable direct materials cost variance occurs when the actual direct materials cost incurred is greater than the standard direct materials cost

Answer the following statement(s) true (T) or false (F)

1. Work flow analysis is completed in reverse---the first thing analyzed is the end result of the process. 2. In stable, bureaucratic organizations, task-based job analysis would usually be the norm. 3. The traditional approach to job design has been to focus on individual jobs. 4. The quickest and easiest way to fix a personnel shortage in the short term is overtime. 5. The cost of recruiting, selecting, and training a new employee is usually more than 100% of that employee's annual salary.

A firm's risk tolerance is a combination of management's philosophy toward transaction exposure and the specific goals of treasury activities

Indicate whether the statement is true or false.