When an Automated Matching System Is Used, All of the Relevant

question 97

True/False

When an automated matching system is used, all of the relevant files must be online or in databases).The system can then access the online purchase order and receiving files and check the match of items, quantities, and prices.

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Definitions:

Profit

The financial gain derived from a business activity after subtracting all expenses, taxes, and costs.

Manufacturing Overhead

Costs, other than direct materials and direct labor costs, that are incurred in the manufacturing process.

Direct Labor Hours

The time spent by workers directly involved in the production process of goods or services, often used to allocate labor costs to products.

Overapplied

A situation in cost accounting when the allocated or applied costs exceed the actual costs incurred.