A Unit of Measure Commonly Used to Quantify Liquid Flow

question 50

Multiple Choice

A unit of measure commonly used to quantify liquid flow is lpm.What does lpm stand for?

• A)Low pressure measurement
• B)Liters per minute
• C)Low power motor

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Definitions:

Variable Costing

A bookkeeping procedure that adds only variable production fees (including direct materials, direct labor, and variable manufacturing overhead) into the costs associated with products.

Unit Product Cost

The total cost to produce a single unit of product, including direct materials, direct labor, and allocated overhead.

Direct Labor Cost

The expense of labor that can be directly attributed to the production of goods or services.

Net Operating Income

A company's revenue minus its operational direct and indirect costs, excluding taxes and interest.