________ Consists of Computer and Communication Hardware and Software, and the Skills

question 151

Multiple Choice

________ consists of computer and communication hardware and software, and the skills of designers, programmers, technicians, and managers.

• A) Strategic capital
• B) Knowledge management
• C) Information technology
• D) Corporate knowledge

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Definitions:

Standard Hours Allowed

The amount of time that should be spent to produce a certain amount of goods or services, according to predetermined standards.

Overhead Volume Variance

A measure used in cost accounting to determine the difference between the allocated overhead costs and the actual overhead costs incurred.

Fixed Overhead Rate

A predetermined rate used to assign fixed overhead costs to cost objects, based on a specific activity level or base.

Normal Capacity Hours

The amount of production capability a company can expect to achieve under normal circumstances over a specific period.