Answer: Manufacturers follow four steps to implement a manufacturing overhead allocation system. The last step is to: " B. Allocate some manufacturing overhead to each individual job ".
Explanation: The steps to implement a manufacturing overhead allocation system are:
1) Obtain a detailed list of all general manufacturing costs.
2) Choose an allocation base (machine hours, direct labor hours) to divide the general factory costs by this allocation base and assign general costs to each production unit.
3) The total allocation base is divided by the units produced to know the amount of manufacturing overhead associated with each unit.
4)"B. Assign some general manufacturing expenses to each individual job." For example, product X requires 2 hours of work to produce it and product Y one hour, higher general manufacturing costs will be assigned to product X
Answer:
1. Profit
2. Business
Explanation:
Profit may be defined as the income which is distributed to the owner in the production process of a profitable market. In other words it is the extra revenue generated by the company that is in excess of the money spend as expenses. It is the difference between the earned income and the costs.
Business is a regular work or occupation or trade of a person. It refers to an organized efforts as well as the activities of any individual to produce the goods and services and sell them for a profit.
Answer: Longer-term project
Explanation:
At the beginning of a project, it may not be possible to estimate the costs for all activities with some levels of confidence regarding their accuracy if the project isn't a short-term project, because it's not really possible to accurately fortell the costs of unforseeable outcomes and factors that may affect the project in one way or the other in the long run.
