________ Is the Name Used for a Collection of Related

question 45

Multiple Choice

________ is the name used for a collection of related sets of information that are composed of separate elements.

• A)Information sets
• B)Variable sets
• C)Data sets
• D)Field sets

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Definitions:

Departmental Predetermined Overhead Rates

The estimated overhead rates assigned to different departments within a company, used for more accurate product costing.

Markup

The amount added to the cost price of goods to cover overhead and profit; a percentage of the cost.

Machine-Hours

A measure of production volume or activity based on the number of hours machines are operated.

Machine-Hours

A measurement used in cost accounting to allocate expenses to products or job orders, based on the number of hours machines are operated.