There Are Three Classifications of Torts: Intentional, Presumptive, and Strict

question 93

True/False

There are three classifications of torts: intentional, presumptive, and strict liability.

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Definitions:

Direct Labor-Hours

The total hours worked by employees who are directly involved in the manufacturing process or production of goods.

Fixed Manufacturing Overhead

Indirect manufacturing costs that remain constant regardless of the level of production, such as factory rent and salaries of production supervisors.

Variable Overhead Rate

This rate is used to apply the variable overhead costs to production activities, based on an activity base.

Direct Labor-Hours

The total hours worked by employees directly involved in the manufacturing process or providing a service, used as a basis for allocating labor costs.