____ Is an Organization That Plays a Vital Role in Training

question 32

Multiple Choice

____ is an organization that plays a vital role in training for the machining industry.

• A) NIMS
• B) NMIS
• C) NMS
• D) NSMI

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Definitions:

Direct Materials

Raw materials that are directly involved in the production of a product and can be easily traced to it.

Cost Pool

A collection of indirect costs grouped together based on similar cost drivers for the purpose of allocation to products, services, or departments.

Activity-Based Costing

A costing methodology that assigns costs to products and services based on the activities and resources that go into producing them.

Overhead Cost Per Unit

The indirect manufacturing costs allocated to each unit of product produced.