Figure 1-5 -Figure 1-5 Above,letter "B" Represents Which Era in U.S.business History

question 97

Multiple Choice

Figure 1-5
-Figure 1-5 above,letter "B" represents which era in U.S.business history?

• A) sales era
• B) production era
• C) age of consumerism
• D) marketing concept era
• E) customer relationship era

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Definitions:

Labor Flow

This refers to the movement of employees or workforce within a company, industry, or between jobs, including their utilization and productivity.

Process Costing System

An accounting methodology used for homogenous products, allocating costs over the entire production process.

Weighted Average Method

An inventory costing method that assigns a cost to inventory on the basis of the average cost of all similar goods available during a certain period.

Direct Labor

Labor costs directly associated with the manufacturing of products or the provision of services, which vary with the production volume.