What Term Is Commonly Used to Describe the Concept Whereby

question 45

Multiple Choice

What term is commonly used to describe the concept whereby the cost of manufactured products is composed of direct materials cost,direct labor cost,and all factory overhead cost?

• A) Standard costing
• B) Variable costing
• C) Absorption costing
• D) Marginal costing

---

Definitions:

Democratic

Pertaining to a system of government by the whole population or all the eligible members of a state, typically through elected representatives.

'Least-preferred co-worker'

A concept used in Fiedler's contingency theory to gauge a leader's task or relationship orientation based on their description of a difficult co-worker.

Play-oriented

An approach or attitude focusing on play and enjoyment, often in the context of learning or creative activities.

Group-centred

Focused on or revolving around the interests and needs of the group as a whole.