Enactment of Which of the Following Major Federal Drug Regulations

question 11

Multiple Choice

Enactment of which of the following major federal drug regulations required that new drug products be proven both safe and effective before they could be approved for sale in the U.S.?

• A) Federal Food,Drug,and Cosmetic Act (FD&C Act),1938
• B) Comprehensive Drug Abuse Prevention and Control Act (Controlled Substances Act),1970
• C) Durham-Humphrey Amendment to the FD&C Act,1951
• D) Kefauver-Harris Amendment to the FD&C Act,1962

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Definitions:

Plantwide Overhead Rate

A single overhead absorption rate used throughout a manufacturing plant for assigning overhead costs to products.

Cost Pool

A grouping of individual costs, typically by department or service center, from which cost allocations are made.

Departmental Overhead Rate

This is a method of allocating overhead costs to specific departments based on their respective proportions of an allocation base, such as machine hours or labor hours.

Activity-based Costing

A costing method that assigns overhead and indirect costs to specific activities, providing a more accurate product cost.