The Close Long-Term Relationships Between Auto Salespersons and the Japanese

question 32

True/False

The close long-term relationships between auto salespersons and the Japanese people can be considered as a consumer version of the keiretsu system.

---

Definitions:

Production Methods

Various techniques and processes used in the creation of goods and services, ranging from manual labor to advanced manufacturing technologies.

Standard Cost Systems

Accounting systems that use standards for each element of manufacturing cost entering into the finished product.

Product Costs

The total of direct materials, direct labor, and manufacturing overhead allotted to a product, representing the cost to produce goods.

Volume Variance

The difference between the budgeted fixed overhead at 100% of normal capacity and the standard fixed overhead for the actual production achieved during the period.