Data Management Technology Consists Of

question 48

Multiple Choice

Data management technology consists of:

• A) the physical hardware and media used by an organization for storing data.
• B) the detailed, preprogrammed instructions that control and coordinate the computer hardware components in an information system.
• C) the software governing the organization of data on physical storage media.
• D) the hardware and software used to transfer data.
• E) the universally accepted standards for storing data.

Understand the distinctions between different types of costs and their classifications (direct material, direct labor, factory overhead).

Comprehend the function and importance of materials and finished goods ledgers in tracking inventory.

Understand the calculation and application of factory overhead costs, including overapplied and underapplied overhead.

Understand the job order cost accounting system and its application in both manufacturing and service organizations.

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Definitions:

Point Method

A technique used in job evaluation that involves assigning point values to job elements to assess their relative worth.

Job Evaluation System

A method used to determine the value and pay grade of positions within an organization based on their responsibilities and qualifications.

Pay Range

The span of possible pay rates set by employers that determine the minimum and maximum amount that can be offered to an employee for a specific job.

Movement Through

Generally refers to the progress or advancement of individuals within an organization or the flow of processes in operations.