As Long as Human Resources Representatives Are Available to Answer

question 40

True/False

As long as human resources representatives are available to answer compensation questions and explain how the organization's compensation system works it is unnecessary for managers to understand the details of the system.

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Definitions:

Factory Overhead

All indirect costs associated with manufacturing, excluding direct materials and direct labor, such as maintenance, utilities, and equipment depreciation.

Management Process

The five basic management functions of (1) planning, (2) directing, (3) controlling, (4) improving, and (5) decision making.

Planning

The process of setting goals, developing strategies, and outlining tasks and schedules to accomplish the goals.

Controlling

The function of management involved in monitoring and evaluating the efficiency and effectiveness of a company's strategies and operations.