Marketers of Services Try to Reduce the Nature of Services

question 62

Multiple Choice

Marketers of services try to reduce the nature of services through training and standardization.

• A)tangible
• B)variable
• C)perishable
• D)inseparable
• E)excusable

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Definitions:

Process Costing

A costing method used where similar products are produced in a continuous process, assigning average costs to each unit.

Job Order Costing

An accounting methodology used to track the expenses of creating a specific product or providing specific services and assign those costs to the products or services.

Conversion Costs

The combined costs of direct labor and manufacturing overhead, representing the costs to convert raw materials into finished products.

Direct Labor

The labor costs that are directly traceable to the production of specific goods or services, representing the cost of workers who physically convert materials into finished products.