When Predicting the Costs for Her Company, Jane Is Engaging

question 79

Multiple Choice

When predicting the costs for her company, Jane is engaging in

• A) forecasting.
• B) competitive intelligence.
• C) environmental scanning.
• D) benchmarking.
• E) scenario development.

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Definitions:

Employee Time Ticket

A record that details the amount of time an employee spends on different tasks or projects, used for payroll or costing purposes.

Vacation Travel

encompasses both the planning and actual experience of personal travel for leisure or recreation purposes.

Absorption Costing

An accounting method that includes all manufacturing costs - direct materials, direct labor, and both fixed and variable manufacturing overhead - in the cost of a product.

Nonmanufacturing Costs

Expenses that are not directly tied to the production of goods, including selling, general, and administrative expenses.