Under Time and Material Pricing,what Is(are)included in the Time Component

question 23

Multiple Choice

Under time and material pricing,what is(are) included in the time component?

• A) Only the direct costs of the employee, including salary and fringe benefits.
• B) A profit element.
• C) A loading charge.
• D) A charge for ordering and handling inventory items.

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Definitions:

Steel

An alloy of iron and carbon, and sometimes other elements, known for its high tensile strength and ability to be shaped into various forms.

Total Cost Curve

A graphical representation that shows how the total cost of production changes as the quantity of output changes.

Output

In economics, this refers to the total amount of goods and services produced by an economic system over a given period.

Total Daily Cost

The complete sum of all expenses incurred by an individual or company in a single day, including both fixed and variable costs.