Which of the Following Best Describes the Relation Between Centration

question 6

Multiple Choice

Which of the following best describes the relation between centration and conservation?

• A)Conservation requires centration.
• B)Centration is due to lack of conservation.
• C)Centration is reflected in lack of conservation.
• D)Conservation is independent of centration.

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Definitions:

Direct Labor Cost

The total cost incurred by a company for the wages of workers who are directly involved in the manufacturing or production process.

Absorption Costing

A costing method that includes all manufacturing costs - direct materials, direct labor, and both variable and fixed manufacturing overheads - in the cost of a product.

Variable Costing

An accounting method that only includes variable production costs (direct labor, direct materials, and variable manufacturing overhead) in product costs.

Unit Product Cost

The total cost (both variable and fixed) associated with producing a unit of product.