The Principles of Justice Convey That the Organization Must Prepare

question 65

True/False

The principles of justice convey that the organization must prepare for problems by establishing a formal discipline process in which the consequences become severe if the employee repeats the offense.

Recognize the impact of employee benefits on retention and attraction of employees.

Understand the financial management of benefit plans including cost control mechanisms.

Analyze the importance and methods of benefit audits for organizational efficiency.

Understand the emerging trends in employee benefits and services.

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Definitions:

Direct Materials

Raw materials that directly become a part of the finished product and can be easily traced to it.

Standard Cost

A predetermined cost of manufacturing a single unit or a number of product units during a specific period under current or anticipated operating conditions.

Direct Labor Variances

The differences between the actual costs of direct labor and the standard or expected costs, used for budgeting and cost control.

Direct Labor Workers

Employees who are directly involved in the production of goods or services.