Summative Assessments Are Concerned with

question 5

Multiple Choice

Summative assessments are concerned with

• A) certification of mastery
• B) diagnosis of errors
• C) entry learning skills
• D) progress during learning

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Definitions:

Standard Cost

A predetermined cost of manufacturing a single unit or a number of units during a specific time period for budgeting and financial control.

Journalize

The process of recording transactions in the journal of a company, detailing the financial activities.

Manufacturing Overhead Variance

The difference between the actual manufacturing overhead costs incurred and the overhead costs allocated to the production process based on a predetermined rate.

Direct Labor Hours

The cumulative working hours of employees directly engaged in the production process.