MATCHING Match Each Description with the Item Below

question 57

Multiple Choice

MATCHING
Match each description with the item below.
-Henry Clay Frick

• A)founded Standard Oil
• B)was president of the Homestead Steel Works
• C)led the Knights of Labor
• D)wrote "The Gospel of Wealth"
• E)was a presidential candidate of the Socialist Party of America
• F)founded a mail-order business
• G)coined the phrase "social dynamite"
• H)organized the Workingmen's Party of California
• I)was a labor organizer executed for murder
• J)consolidated the steel industry into the United States Steel Corporation

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Definitions:

Activity-based Costing

A costing method that assigns overhead and indirect costs to specific activities, improving the accuracy of product and service pricing.

Idle Capacity

Unused production capability or facilities that could be used to produce more goods but are not currently being utilized due to lack of demand or efficiency.

Plantwide Overhead Rate

A single overhead rate calculated by dividing total manufacturing overhead costs by the total allocation base for the entire plant.

Activity-based Costing

A method in accounting that identifies the activities in an organization and assigns the cost of each activity to all products and services according to the actual consumption by each.