The work measurement method of cost estimation is also called ___________?
Correct answer: B. industrial engineering method
- A. price engineering method
- B. industrial engineering method
- C. measuring engineering method
- D. unit engineering method
Explanation
Work measurement estimates the time and resources required for production activities, so it is commonly called the industrial engineering method. The other labels are not standard names for this cost-estimation technique.
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About Cost Accounting
Cost accounting measures and analyses the cost of producing goods or providing services for planning, control and pricing decisions. It covers direct and indirect costs, fixed and variable costs, job and process costing, break-even analysis, marginal costing, overhead allocation, and the difference between product cost and period cost.
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