Please Define the Following Key Terms

question 91

Short Answer

Please define the following key terms
-import substitution

---

Definitions:

PVC Fencing

A fencing material made from polyvinyl chloride, known for its durability, weather resistance, and low maintenance requirements.

Plantwide Overhead Rate

A unified rate employed across the entire manufacturing facility to allocate overhead expenses to products.

Machine Hours

A measure of the amount of time that machinery is operating and being used for production within a given period.

Direct Labor Hours

The number of labor hours spent by employees directly involved in the manufacturing process of a product.