The Sales Department of a Mutual Fund Firm Set a Few

question 103

Multiple Choice

The sales department of a mutual fund firm set a few goals for the New Year. The firm set targets to sell a certain number of mutual funds within each month. The firm was only bothered about meeting the target and not about how to meet the target. This implies that the firm had made a(n) _____ goal.

• A)procedural
• B)learning
• C)justice
• D)equity
• E)performance outcome

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Definitions:

Cost Of Production Report

A document detailing the total cost of production, including direct materials, direct labor, and overhead, for a specific period.

Conversion Costs

The costs required to convert raw materials into finished products, typically including labor and overhead.

Direct Labor

The labor costs directly associated with the manufacturing of a product or the provision of a service.

Factory Overhead

All indirect costs associated with manufacturing, excluding direct materials and direct labor. Examples include utilities, depreciation on factory equipment, and salaries of factory supervisors.