When Using a Time-Study Approach,the Standard Time Is

question 21

Multiple Choice

When using a time-study approach,the standard time is

• A) the normal time per cycle multiplied by 1.0 plus the allowance.
• B) the select time multiplied by the rating factor, summed over all work elements.
• C) the select time plus z times the standard deviation.
• D) the normal time plus z times the standard deviation.

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Definitions:

T-account

A ledger account representation that outlines the debits and credits for specific transactions, helping accountants visualize the effects on each account.

Insurance Cost

The expense incurred from purchasing insurance to protect against risks.

Work in Process

Inventory that is in the production process but is not yet completed. Also known as work in progress.

Job-order Costing System

An accounting system that accumulates costs per individual job or project to calculate profitability and costs.