Which of the Following Statement Pertains to Criterion-Related Validity

question 42

Multiple Choice

Which of the following statement pertains to criterion-related validity?

• A)It is a means of measuring whether the requirement or test actually evaluates abilities required on the job.
• B)The specific traits or constructs for the test may be based on observations but cannot be measured directly.
• C)It concerns the statistical correlation between scores received on tests and job performance.
• D)It is a means of isolating and testing for specific traits or characteristics that are deemed essential for job performance.

Recognize how direct and indirect costs are recorded and allocated in job-order costing.

Distinguish between direct materials, direct labor, and manufacturing overhead in cost accounting.

Describe the process of closing underapplied or overapplied manufacturing overhead to Cost of Goods Sold.

Calculate the total cost of goods manufactured.

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Definitions:

Fixed Cost

Any cost that does not depend on the firms’ level of output. These costs are incurred even if the firm is producing nothing. There are no fixed costs in the long run.

Marginal Costs

Marginal Costs involve the additional expenses incurred from the production of one extra unit of a product or service.

Total Variable Cost

the sum of all costs that vary with the level of production, such as materials and labor directly involved in manufacturing.

Total Fixed Costs

The sum of all consistent, non-variable expenses a company must pay, regardless of its level of production.