Answer: c. multiple predetermined overhead costs
Explanation:
Companies can improve job cost accuracy by using ________.
(A) a plantwide overhead rate
(B) direct-labor hours to apply overhead
(C) multiple predetermined overhead rates
(D) number of units in the job to apply overhead
By applying multiple predetermined overhead costs, companies can improve job cost accuracy. This is because it provides more accurate product costs. It is usually employed in large companies. Here, each department engaged in production runs its own predetermined overhead rate. Though while more complex, is known to be more accurate since it reflects the differences across the various production departments in how overhead costs are incurred, hence, job accuracy is improved significantly.
<span>This is a phenomenon described by Christian McLean's law as rural flight. Advancement of agricultural equipment have often made farmers to leave smaller villages to bigger towns where there are more better equipped farms and farmers after the end of world War 2 felts the need for specialist services focusing on planting just a particular type of crop and getting better results as old methods were not yielding enough harvest.</span><span />
Answer:
the time rate system
Explanation:
The wage payment system is divided into three major types:
- Time rate: employees are paid on the basis of time, e.g. per hour, day or week. This payment system doesn't consider any type productivity factors. The main advantage of using this payment system is its simplicity: e.g. amount of hour worked x wage per hour = total salary.
- Piece rate: employees are paid on the basis of quantity and quality of work performed (productivity).
- Incentive wage: combination of the two prior systems, where employees are paid a fixed time rate plus a bonus or incentive pay depending on productivity.
Answer:
Min 2M + 3B
Explanation:
Data provided in the question
Let us assume M denotes the making units
B denotes the buying units
So,
Making cost per unit = $2
And, the buying cost per unit = $3
And, the total number of units required = 4,000 units
Based on the above information, the objective function is Min 2M + 3B.
This indicates the minimum total cost
Hence, the correct option is A.
Answer:
the correct answer is "opportunity cost".
the opportunity cost here means the cost of the next best opportunity lost because of spending time at work, this could be 8 hours, 10 hours at work, etc.
the underline point here is that when someone works for, lets say, 8 hours, he or she could have done something else that they enjoy and brings value to them and their family.
but since they are working, they can not engage in that activity. because of this, we call it the opportunity cost! simple right?
Explanation:
