What Is Customer Relationship Management

question 61

Multiple Choice

What is customer relationship management?

• A) the process of maintaining good relationships between all wholesalers and/or retailers in the distribution channel
• B) a process used to retain customers when purchases are based on low price or convenience
• C) a system for handling late deliveries and damaged product returns
• D) the process of re-orienting a business to a concentrated focus on satisfying customers

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Definitions:

Predetermined Overhead Rate

A rate calculated before the accounting period begins, used to allocate manufacturing overhead costs to individual units of product based on a certain activity, like labor hours.

Direct Labor-Hours

A measure of the time employees who work directly in the production of goods spend on a specific job or product, used to allocate labor costs in job costing.

Machine-Hours

A measure of the amount of time machines are used in the production process, often used to allocate manufacturing overhead costs.

Machining Department

A division within a manufacturing facility where machines are used to process materials into finished products.