How Was the Monastery of Cluny in Burgundy a City

question 12

Essay

How was the monastery of Cluny in Burgundy a city in itself?

Identify direct materials, direct labor, and factory overhead costs.

Classify costs as either direct or indirect costs.

Compute cost of goods manufactured and cost of goods sold.

Differentiate between financial and managerial accounting.

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Definitions:

Scientific Management

Scientific Management is a management theory developed by Frederick W. Taylor that analyzes and synthesizes workflows with the main objective of improving economic efficiency, especially labor productivity.

Frederick Taylor

Known as the father of scientific management, Frederick Taylor introduced principles aiming to improve industrial efficiency and productivity through systematic study and analysis of work tasks.

Performance Incentive

A reward system designed to motivate employees to achieve specific performance targets or goals.

Fredrick Taylor

An American engineer and management consultant known for his scientific management theory, which sought to improve industrial efficiency through systematic study and analysis.