The Manager of a Cost Center Is Responsible for Cost

question 75

True/False

The manager of a cost center is responsible for cost control and revenue generation.

Recognize the importance of research designs and methodologies in studying human development.

Identify the role of cognitive equilibrium in learning and adaptation.

Understand the difference between assimilation and accommodation in cognitive processes.

Recognize the impact of psychoanalytic, behaviorist, and cognitive theories on the understanding of human development.

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Definitions:

Traditional Cost System

A costing method that allocates overhead costs based on a single volume-based cost driver, such as labor hours or machine hours.

Purchase Order

A document issued by a buyer to a seller, indicating types, quantities, and agreed prices for products or services.

Batch-level Activity

Refers to tasks that are performed each time a batch is processed, affecting multiple units of product but not directly correlated to each individual unit.

Departmental Overhead Rates

Specific rates used to allocate overhead costs to products or services based on the expenses incurred by different departments.