Explain in broad terms, using a sentence or two, what is meant by the "classical stopwatch study." To what extent is it still in use today?
What will be an ideal response?
The classical stopwatch study, or time study, involves timing a sample of a worker's performance and using it to set a standard. Stopwatch studies are the most widely used labor standard method today.
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The predetermined overhead rate is based on the relationship between
a. estimated monthly costs and actual monthly activity. b. estimated annual costs and expected annual activity. c. estimated annual costs and actual activity. d. actual monthly costs and actual annual activity.
Which of the following is true about cross-border contractual relationships?
A) It is a more visible strategy than FDI and draws a lot of criticism from the local market. B) They are more susceptible to volatility and risk compared to FDI. C) A local firm allows the focal firm to blend into the local market, attracting less attention. D) Focal firms use contractual relationships as an advanced entry strategy in foreign markets.