A Reward Offered on a One-Time Basis for High Performance

question 53

Multiple Choice

A reward offered on a one-time basis for high performance called is a:

• A)merit pay increase.
• B)bonus.
• C)suggestion system.
• D)differential piece-rate system.

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Definitions:

Factory Workers

Individuals employed in a manufacturing setting to operate machinery and assemble goods.

Work in Process Inventory

Partially finished goods that are in the process of being converted into a final product, often reflecting the cost of raw materials, labor, and overhead involved up to that point.

Finished Goods Inventory

Refers to the inventory of goods that are completed and ready for sale.

Cost of Goods Manufactured

The total expense incurred in manufacturing goods, including materials, labor, and overhead, up to the point of completion.