The Cash Disbursement Clerk Performs All of the Following Tasks

question 18

Multiple Choice

The cash disbursement clerk performs all of the following tasks except

• A) reviews the supporting documents for completeness and accuracy
• B) prepares checks
• C) signs checks
• D) marks the supporting documents paid

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Definitions:

Actual Cost

The true financial expenditure required to produce a product or service, as opposed to budgeted or standard costs.

Labour Rate Variance

The difference between the actual cost of direct labor and the standard cost of direct labor multiplied by the actual hours worked.

Direct Labour

Rephrased: The workforce directly involved in manufacturing products or providing services, whose costs directly affect the cost of goods sold.

Variable Manuf. Overhead

Variable Manufacturing Overhead includes those manufacturing overhead costs that vary directly with the level of production, such as utilities for the production facility.