Two Common Measures of Productivity Are Extrinsic Productivity and Intrinsic

question 6

True/False

Two common measures of productivity are extrinsic productivity and intrinsic productivity.

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Definitions:

Activity Bases

In cost accounting, refers to a measurable unit such as machine hours or labor hours that is used to assign costs to activities.

Quality Inspections

The process of reviewing and testing products to ensure they meet the required safety and quality standards.

Machine Setups

The preparation and adjustments made to a machine before starting a production run, including configuration for new products or batches.

Product Costs

The total costs directly tied to the creation of a product, encompassing direct labor, direct materials, and manufacturing overhead.