A Code of Ethics Especially for Project Managers

question 80

Multiple Choice

A code of ethics especially for project managers:

• A) has been established by the Project Management Institute.
• B) has been formulated by the Federal government.
• C) has been formulated by the World Trade Organization.
• D) is inappropriate, since everyone should use the same guidance on ethical issues.
• E) does not exist at this time.

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Definitions:

Product Costs

The total costs incurred to create a product, including direct labor, materials, and overhead.

Manufacturing Activities

The set of processes involved in the production of goods, ranging from raw materials handling to the final assembly of products.

Departmental Overhead Rate

A charge rate specific to each department of a company, calculated to allocate indirect costs to products more accurately.

Plantwide Overhead Rate

A single overhead rate calculated by dividing total factory overhead by total direct labor hours or machine hours, applied company-wide.