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When Using a Standard Costing System,direct Material and Direct Labor

question 23

True/False

When using a standard costing system,direct material and direct labor are recorded at actual cost while manufacturing over is applied at a standard rate.


Definitions:

Metric Fits

The standard for sizes and tolerances in metric system used to determine suitable fits between mating components.

Internal Dimensions

Measurements within an object or space, referring to the inner limits or sizes of a cavity or enclosure.

External Dimensions

The measurable extent of an object's outer boundaries or surface size, including width, height, and depth.

F8/h7 Symbol

A code in engineering denoting a specific type of fit between two machined parts, with precisions defined by the letter and number.

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