It Is the Duty of Every Person Working in an Organisation

question 2

Multiple Choice

It is the duty of every person working in an organisation to:

• A) observe each other so they do not do the wrong thing
• B) observe the law on all issues
• C) do whatever it takes to get ahead
• D) blame someone else when you do something wrong

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Definitions:

Direct Labor-Hours

The total hours worked by employees directly involved in the manufacturing process of a product.

Activity-Based Costing

A costing method that assigns overhead and indirect costs to specific activities, enhancing cost precision.

Overhead Cost

Indirect costs of business operations, such as lighting, rent, and administrative salaries, not directly tied to a specific product or service.

Activity Rates

Used in activity-based costing, these rates are applied to specific activities to allocate costs accurately to products or services based on their consumption of those activities.