An Advantage of a Project Management Information System Is the Record

question 16

True/False

An advantage of a project management information system is the record keeping because data can be kept on individual team members' schedules, each task, costs, and resources used.

---

Definitions:

Unit Product Costs

The calculation of the total cost (including materials, labor, and overhead) to produce a single unit of a product.

Job M598

A specific task or project identified by code M598 within a job costing system, where costs are tracked individually.

Markup

The extra charge added onto the purchase price of products to account for operational costs and generate profit.

Predetermined Overhead Rate

A rate calculated before the period begins, used to allocate manufacturing overhead to products based on a specific activity base.