Distinguish Between Batch Processing and On-Line Processing

question 42

Essay

Distinguish between batch processing and on-line processing. What are the pros and cons of each input method? Under what circumstances is it best to use each?

Recognize how manufacturing overhead is applied and the relevance of the predetermined overhead rate.

Analyze the impact of direct and indirect materials and labor on product costing.

Define the control accounts' role and their significance in cost accounting systems.

Know the principles of internal control systems related to material requisition and labor reporting.

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Definitions:

Financial Performance

A measure of a firm's fiscal health and stability, often assessed through metrics like profitability, revenue, and cash flow.

Managerial Control

The mechanisms and processes that allow managers to monitor and regulate organizational activities and performance to achieve goals.

AOA Diagram

Activity on Arrow diagram, a network diagram used in project management to show the activities of a project on arrows and their dependencies.

CPM/PERT Analysis

Project management tools that help in planning, scheduling, and controlling complex projects, standing for Critical Path Method and Program Evaluation and Review Technique, respectively.