Who Is Responsible for the Fact That Most Products Are

question 71

Multiple Choice

Who is responsible for the fact that most products are manufactured using standardized, interchangeable parts.

• A) Henri Fayol
• B) Eli Whitney
• C) Chester Barnard
• D) Frederick Taylor
• E) Elton Mayo

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Definitions:

Normal Cost System

A costing system in which overhead costs are applied to a job by multiplying a predetermined overhead rate by the actual amount of the allocation base incurred by the job.

Job Cost Sheet

A document that records the materials, labor, and manufacturing overhead costs assigned to each individual job in production.

Predetermined Overhead Rate

An established cost allocation rate that assigns expected indirect costs to products or services based on a chosen activity base.

Level of Activity

The volume or scale of operation in a business, often influencing costs and efficiency, such as the number of units produced or sold.