Controlling Is an Activity Performed by Managers That Involves Which

question 137

Multiple Choice

Controlling is an activity performed by managers that involves which of the following?

• A) instructing and authorizing others to perform the necessary work
• B) identifying and combining resources so that a company can reach its goals and objectives
• C) establishing goals and objectives
• D) measuring performance and, if necessary, taking corrective action

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Definitions:

Unit Product Cost

The total cost (direct materials, direct labor, and overhead) to produce one unit of a product.

Absorption Costing

An accounting method that includes all manufacturing costs (direct material, direct labor, and both variable and fixed manufacturing overhead) in the cost of a product.

Net Operating Income

A company's total earnings from its operations, excluding taxes and interest.

Absorption Costing

A cost accounting procedure that comprises adding up all expenses involved in manufacturing—direct materials, direct labor, and manufacturing overhead, both fixed and variable—to the cost of the product.