Many Industrial Workers Have Been Unemployed and Left Without the Skills

question 19

Multiple Choice

Many industrial workers have been unemployed and left without the skills required in a knowledge-based economy because of:

• A) discrimination against factory and industrial workers
• B) new types of education that train workers for the knowledge economy
• C) long-standing employment patterns
• D) global trade and new forms of technology

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Definitions:

Variable Manufacturing Overhead

The portion of manufacturing overhead costs that vary with the level of production output.

Fixed Manufacturing Overhead

Consistent costs incurred during the manufacturing process that do not change with the amount of production, like factory rent and salaries of permanent staff.

Job-Order Costing System

An accounting system that accumulates costs by specific jobs or orders, suitable for manufacturing or service processes that are distinctively identifiable.

Predetermined Overhead Rate

A rate calculated before a period begins, used to allocate overhead costs to products or job orders based on a certain activity base.