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Why Is It That the TODAY and NOW Date Functions

question 89

Essay

Why is it that the TODAY and NOW date functions do not have any arguments?


Definitions:

Predetermined Overhead Rate

An estimated rate used to assign overhead costs to products or job orders, based on a selected activity base.

Direct Labor-Hours

The total number of labor hours spent on producing a single unit of a product or service.

Fixed Manufacturing Overhead

Costs that do not vary with production volume, such as rent, salaries of permanent staff, and depreciation of factory equipment.

Predetermined Overhead Rate

A rate calculated before the accounting period begins, used to allocate manufacturing overhead costs to individual units of production based on a certain activity base.

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