Describe the Changes in the Way Americans Worked and Lived

question 21

Essay

Describe the changes in the way Americans worked and lived that were a result of increasing industrialism and factory production.

---

Definitions:

Traceable Fixed Expenses

Fixed costs that can be directly associated with a specific business segment or product line.

Fixed Manufacturing Overhead

Costs in the production process that remain constant regardless of the production volume, such as rent or salaries of permanent staff.

Inventories Deferred

Inventories or stock that are postponed or delayed from being recognized in the financial statements.

Variable Costing

An accounting method that includes only variable production costs (direct materials, direct labor, and variable manufacturing overhead) in the cost of goods sold, excluding fixed overhead.