Some Observers Have Noted That Technology Already Has Eliminated Much

question 53

Multiple Choice

Some observers have noted that technology already has eliminated much and in the future will eliminate even more of the work now being done by:

• A)Top level managers
• B)Middle managers and white-collar staff
• C)Maintenance workers
• D)Line employees and service staff

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Definitions:

Product Costs

Costs directly related to the manufacturing of a product, including raw materials, labor, and overhead expenses.

Materials and Labor

Materials and labor represent the primary costs involved in the production of goods, including raw materials used and wages paid to workers.

Period Costs

Expenses directly tied to non-manufacturing activities such as selling, administration, and general business operations, recognized in the income statement when incurred.

General Costs

General costs are indirect expenses related to the overall operations of a company that cannot be directly tied to a specific product or service, such as rent, utilities, and administrative salaries.