Just-In-Time Operations and ISO 9001 Are Key Elements of Time-Based

question 22

True/False

Just-in-time operations and ISO 9001 are key elements of time-based competition.

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Definitions:

Departmental Overhead Rate Method

The departmental overhead rate method is a way of allocating indirect costs to products or services based on the overhead rates of specific departments within an organization, rather than using a single company-wide rate.

Overhead

The total cost of running a business that cannot be directly attributed to the production of goods or services, similar to factory overhead but can apply to non-manufacturing costs.

Overhead Allocation Base

A measure or activity, such as direct labor hours or machine hours, used to assign overhead costs to products or services.

Direct Labor Hours

The total hours worked directly on a product or service by employees in the production process.