A(n)________ Is a Contract Issued to an Exporter by the Shipping

question 20

Multiple Choice

A(n) ________ is a contract issued to an exporter by the shipping company that agrees to transport the goods to their destination.

• A) consular invoice
• B) insurance certificate
• C) bill of lading
• D) draft

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Definitions:

Direct Labor-Hours

The total hours worked by employees directly involved in the manufacturing process, often used as a basis for allocating manufacturing overhead to products.

Fixed Manufacturing Overhead

Costs associated with the production process that do not vary with the level of output, including costs like rent, salaries of permanent staff, and machinery depreciation.

Job-Order Costing System

An accounting method that assigns costs to specific production batches or jobs, used for customized orders.

Predetermined Overhead Rate

An estimated rate used to apply manufacturing overhead to products or job orders, based on a related activity base such as machine hours or direct labor hours.