Among Characteristics That Distinguish Service and Manufacturing Firms Are The

question 41

Multiple Choice

Among characteristics that distinguish service and manufacturing firms are the:

• A) Absence of output inventory in service firms.
• B) Existence of labor-intensive products in manufacturing firms.
• C) Rendering of identical services in a service firm.
• D) Capital intensiveness of service firms.
• E) Organizational structure of service firms.

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Definitions:

Standard Hours

The expected amount of time it should take to complete a task or process under normal conditions.

Target Denominator Level

A predetermined level of activity (such as machine-hours or labor-hours) used to allocate fixed overhead costs to individual units of production.

Volume Variance

A metric that measures the difference between the budgeted and actual volume of production or sales, often reflecting changes in demand or efficiency.

Economic Impact

The effect of an event, policy, or program on the economy of a given area, ranging from a local community to the global economy.