Redundancy Means Storing the Same Fact in More Than One

question 98

True/False

Redundancy means storing the same fact in more than one place.

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Definitions:

Predetermined Overhead Rate

A rate calculated before the accounting period begins, used to assign overhead costs to products or job orders based on a relevant activity base such as machine hours or labor hours.

Direct Labor-Hours

The sum of all hours spent by workers who are directly engaged in manufacturing, used as a foundation for distributing labor expenses to products or services.

Traditional Costing

An accounting method that allocates manufacturing overhead costs to products based on volume-related measures, such as labor hours or machine hours.

Unit Product Cost

The total cost (both direct and indirect) associated with producing a single unit of a product.