__________________Refers to the Increase in the Benefit a Technology Brings

question 9

Short Answer

__________________refers to the increase in the benefit a technology brings as the community of adopters accumulates experience and knowledge of its use.

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Definitions:

Direct Materials

The raw materials directly used in the manufacturing of a product, clearly identifiable and assignable to that product.

Indirect Labor

Labor costs associated with supporting the production process but not directly working on the product, such as maintenance or supervision.

Process Cost Report

A financial report in managerial accounting that summarizes the costs associated with processes or production departments, tracking material, labor, and overhead.

Allocation Costs

The process of distributing indirect costs to different departments, products, or projects based on relevant cost drivers.