Microenterprises Are Small Informal Groups That Help Supply Goods and Services

question 31

True/False

Microenterprises are small informal groups that help supply goods and services to rural customers.

---

Definitions:

Indirect Materials

Materials used in the production process that cannot be directly linked to specific products, such as lubricants for machinery.

Work in Process

Inventory of partially finished goods that includes the cost of raw materials, labor, and overhead expenses incurred.

Direct Materials

Materials directly linked to the production of a certain product and incorporated into its cost.

Predetermined Overhead

An estimated rate used to allocate overhead costs to products or services based on expected activities and costs.