Which of the Following News Quotes Best Describes a New

question 17

Multiple Choice

Which of the following news quotes best describes a new classical view of a recession?

• A)"Rapid computerization is creating obsolete workers and higher unemployment."
• B)"The unexpectedly tight fiscal policy is raising spending and lowering unemployment."
• C)"The anti-inflationary policy of the Bank of Canada is increasing spending."
• D)"The cuts in government spending have helped lower consumer spending and created unemployment."
• E)"Businesses are very worried about future sales and have lowered their purchases of capital equipment."

Understand how to allocate underapplied or overapplied manufacturing overhead among work in process, finished goods, and cost of goods sold accounts.

Understand the treatment of manufacturing overhead in the determination of the cost of goods available for sale.

Understand how the closing out of overapplied or underapplied manufacturing overhead affects cost of goods sold.

Learn the significance of actual versus estimated direct labor-hours in overhead application.

---

Definitions:

Job Structure

An organizational outline that defines each job's relative value and pay within the company, often based on job evaluation.

Relative Pay

The comparison of an individual's wage or salary to those of other workers within the same organization, industry, or geographical area.

Organization

A structured group of people working together to achieve common goals, guided by established regulations and operating procedures.

FLSA

The Fair Labor Standards Act, U.S. legislation that sets standards for minimum wage, overtime pay, and child labor protections.