By the 1970s, Manufacturing Companies Began to Use a Software

question 11

Multiple Choice

By the 1970s, manufacturing companies began to use a software called ________ to efficiently manage inventory, production, and labor.

• A) enterprise application integration
• B) enterprise resource planning
• C) business performance management
• D) material requirements planning

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Definitions:

Overapplied Overhead

A situation where the overhead allocated to products is more than the actual overhead incurred.

Job-Order Costing

An accounting method where costs are assigned to specific jobs or orders, used in manufacturing and service industries for unique or custom orders.

Overapplied Overhead

A scenario in which the overhead cost assigned to manufacturing exceeds the actual overhead expenses incurred.

Cost of Goods Sold

The total direct costs attributable to the production of goods sold by a company.