Recurring Costs Include: Hardware Maintenance,software Acquisition,software Maintenance,insurance,supplies,and Personnel Costs

question 47

True/False

Recurring costs include: hardware maintenance,software acquisition,software maintenance,insurance,supplies,and personnel costs.

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Definitions:

Standard Costing System

An accounting system that uses standard costs for cost control and decision-making purposes.

Direct Labour Hours

The number of hours worked by employees who are directly involved in the production of goods or services.

Standard Costing Systems

A cost accounting system that estimates the cost of products or services by assigning expected costs for materials, labor, and overhead to the actual production volumes.

Variances

The difference between expected and actual performance, costs, or revenues, often analyzed in budgeting and accounting to manage and improve financial performance.