What Process Addresses How Long Data Must Be Kept and How

question 20

Multiple Choice

What process addresses how long data must be kept and how it is to be secured?

• A)legal retention
• B)data retention
• C)legal and compliance
• D)data methodology

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Definitions:

Machine Hours

A measure of the amount of time machines are operated in the production process, commonly used as an allocation base for assigning overhead costs.

Indirect Labor

Labor costs attributed to anything other than the direct manufacturing of goods or provision of services, such as maintenance, supervision, and administrative tasks.

Factory Utilities

Expenses incurred for electricity, gas, water, and sewage services used in the operation of a manufacturing plant or factory.

Plantwide Overhead Rate

A single rate used to allocate manufacturing overhead costs to all units produced, regardless of the department in which they were made.