Grapevines

question 15

Multiple Choice

Grapevines:

• A) serve no purpose.
• B) breed monotony in the workplace.
• C) are a formal communication method.
• D) are primarily accurate.

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Definitions:

Standard Cost

A predetermined cost of manufacturing, serving, or marketing an item, which includes direct labor, direct material, and overhead charges.

Industry Average

A benchmark or norm for a specific industry, calculated as the average of a significant metric (like return on investment) across similar companies.

Standard Costs

Predetermined costs of manufacturing, overhead, material, and labor that are used as benchmarks to measure performance against actual costs.

Clerical Costs

Expenses associated with administrative tasks and office support activities within an organization.