The Payroll Master File Serves Which Purpose

question 43

Multiple Choice

The payroll master file serves which purpose?

• A) It is a repository of all employees currently employed and recently discharged.
• B) It lists key employee data such as pay rate and deduction information.
• C) It lists the year-to-date earnings information for each employee.
• D) All of the above.

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Definitions:

Manufacturing Overhead Cost

All manufacturing costs that are not directly associated with the production process, including indirect materials, indirect labor, and other overhead costs.

Relevant Range

The spectrum of operations or magnitude within which the premises regarding constant and fluctuating cost dynamics hold true.

Prime Cost

The combined cost of raw materials and labor directly involved in the production of goods.

Product Costs

The costs directly incurred from the manufacturing of products including materials, labor, and overhead.