Examlex
When firms do not deal swiftly and fairly with the unethical behavior of employees, ethical employees feel penalized.
Standard Costs
The predetermined costs of manufacturing a product or providing a service, used for budgetary and performance evaluation purposes.
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.
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