Reification Means That a Concept or Abstraction Is ______

question 34

Multiple Choice

Reification means that a concept or abstraction is ______.

• A) simplified
• B) quantified
• C) treated as a real thing
• D) reliable

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Definitions:

Direct Labor Cost

The total cost incurred by a company for the wages of workers who are directly involved in the manufacturing or production process.

Absorption Costing

A costing method that includes all manufacturing costs - direct materials, direct labor, and both variable and fixed manufacturing overheads - in the cost of a product.

Variable Costing

An accounting method that only includes variable production costs (direct labor, direct materials, and variable manufacturing overhead) in product costs.

Unit Product Cost

The total cost (both variable and fixed) associated with producing a unit of product.