Which Concept Refers to the Storage of Finished Product and Movement

question 9

Multiple Choice

Which concept refers to the storage of finished product and movement to the customer?

• A)supply chain management
• B)business logistics
• C)physical distribution
• D)materials management

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Definitions:

Standard Rate

A predetermined cost or price that is established for accounting or budgeting purposes, often used in costing and financial analysis.

Actual Hours

The real number of hours worked, as opposed to planned or estimated hours.

Overhead Controllable Variance

The difference between the actual overhead incurred and the overhead that should have been incurred, based on controllable factors.

Budgeted Overhead

The estimated cost of all indirect production expenses for a specific period as part of the budgeting process.