_____ Involves Any Business Transactions Executed Electronically Between Companies

question 19

Short Answer

_____ involves any business transactions executed electronically between companies.

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Definitions:

Direct Labour

The workforce directly involved in the manufacturing of goods or provision of services, whose wages are directly associated with specific products or services.

Labour Rate Variance

The difference between the actual cost of labor and the budgeted cost, based on hours worked and the rates paid.

Standard Direct Labour Rate

refers to the pre-determined cost per hour for direct labor, used in budgeting and measuring labor cost efficiency.

Labour Efficiency Variance

The difference between the actual hours worked and the standard hours expected to produce a certain number of units, multiplied by the standard hourly wage rate.