In Medieval India

question 11

Multiple Choice

In medieval India

• A) trade was so small in scale that cities shrank and overall wealth declined.
• B) the Parsis dominated the Hindu priestly caste by the eighth century C.E..
• C) merchants were universally poor, a reflection of the areas hostility to merchants.
• D) cotton goods, spices and sandalwood were major exports.
• E) warfare disappeared.

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Definitions:

Overhead Applied

Refers to the allocation of indirect costs to specific cost objects, such as products or services, based on a predetermined rate or basis.

Direct Labor-Hours

The total hours of labor directly involved in the manufacturing process, used as a basis for allocating manufacturing overhead to products.

Departmental Predetermined Overhead Rates

The estimated overhead rates assigned to different departments within a company, used for more accurate product costing.

Markup

The amount added to the cost price of goods to cover overhead and profit; a percentage of the cost.