An Organization's Job Structure Consists Of

question 51

Multiple Choice

An organization's job structure consists of:

• A) the relative pay for different jobs within the organization.
• B) the average amount an organization pays for a particular job.
• C) the characteristics of jobs that the organization values and chooses to pay for.
• D) regular pay, overtime pay, and bonuses.
• E) the standard amount that employers must pay under federal and state law.

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Definitions:

Direct Labor

The labor cost directly tied to the production of goods or services, including wages and salaries of workers who are directly involved in manufacturing a product or delivering a service.

Standard Cost System

A cost accounting system that applies estimated costs to product costs for setting standards, controlling operations, and identifying variances or differences between actual costs and standard costs.

Direct Labor Costs

The total expense a company incurs for paying employees who are directly involved in the manufacturing of a product or the delivery of a service.

Standard Cost System

A cost accounting system that uses cost estimates for materials, labor, and overhead to assess performance by comparing these standard costs to actual costs incurred.