Apart from the Major Functions of the Fed, Are There

question 68

Essay

Apart from the major functions of the Fed, are there other duties assigned to it? Explain.

---

Definitions:

Raw Materials

The basic, unprocessed inputs required for the production process in manufacturing goods.

Direct Labor-Hours

A measure of the amount of time spent by workers directly involved in the manufacturing process, used in calculating labor costs and efficiency.

Journal Entry

A record in the accounts of a business, documenting a financial transaction with both debit and credit parts.

Direct Labor Costs

Expenses associated directly with the manufacturing of a product, including wages of workers actually making the product.