Matching: Please Match the Term, Thinker, And/or Text with Its

question 23

Multiple Choice

Matching: Please match the term, thinker, and/or text with its complement or correspondent , by placing the appropriate identification letter/number in the space provided. (You may use answers more than once.)
-____ Abraham Maslow

• A) Hierarchy of Needs
• B) Leisure class
• C) Conspicuous consumption
• D) Vicarious consumption
• E) Positional goods
• F) Treadmill of consumption
• G) Marshal Sahlins
• H) Thorstein Veblen
• I) Mahatma Gandhi
• J) Hau

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Definitions:

Normal Costing

An accounting method that assigns costs to products based on direct materials, direct labor, and an allocated portion of manufacturing overhead based on normal activity levels.

Work in Process

Inventory items that are in the production process but are not yet complete.

Predetermined Overhead

An estimated rate used to allocate manufacturing overhead costs to products based on planned activity levels.

Underapplied Overhead

A situation where the allocated manufacturing overhead costs are less than the actual overhead costs incurred, leading to an underestimation of product costs.