Human Capital Is the

question 44

Multiple Choice

Human capital is the

• A)knowledge and skills that workers acquire through education,training,and experience.
• B)stock of equipment and structures that is used to produce goods and services.
• C)total number of hours worked in an economy.
• D)same thing as technological knowledge.

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Definitions:

Direct Labor-Hours

The total number of hours worked by employees directly involved in the manufacturing process.

Manufacturing Departments

Specific areas within a manufacturing facility where distinct stages of production are carried out.

Predetermined Overhead Rates

Rates used to allocate overhead costs to products or job orders, based on estimated costs and activity levels.

Direct Labor-Hours

The sum of hours contributed by workers directly participating in the creation of a product or the execution of a service.