Which of the following statements about using a plantwide overhead rate based on direct labor is correct? It is often overly simplistic and incorrect to assume that direct labor-hours is a company's only manufacturing overhead cost driver. The labor theory of value ensures that using a plantwide overhead rate based on direct labor will do a reasonably good job of assigning overhead costs to jobs. Using a plantwide overhead rate based on direct labor costs will ensure that direct labor costs will be correctly traced to jobs. Using a plantwide overhead rate based on direct labor-hours will ensure that direct labor costs are correctly traced to jobs.

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Management by Exception

A manager’s job is a very tough one. A manager needs to look at the various areas of work and as a manager he has to look after two or more important jobs or activities at the same time for the growth of the business. In order to do all these things in an effective manner, a manager must adopt or practice different management styles and tactics.