In Setting the Direct Labor Quantity Standard,allowances Are Made for Such

question 114

Multiple Choice

In setting the direct labor quantity standard,allowances are made for such items as rest time and machine down-time,based on estimates made by

• A)Controller.
• B)Engineering department.
• C)Human resources department.
• D)None of these ans choices are correct.

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Definitions:

GAAP

Generally Accepted Accounting Principles; a collection of standardized guidelines and practices for financial accounting used in a particular jurisdiction.

Historical Cost

The original monetary value of an asset or investment at the time of its acquisition.

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