Consider the following statements about time and material pricing:
I. The time charge includes the direct cost of an employee's time.
II. The time charge includes an amount to cover various overhead costs.
III. The material charge includes a handling charge for material.
Which of the above statements is (are) true?
A) I only.
B) I and II.
C) I and III.
D) II and III.
E) I, II, and III.

Question

Quizplus · Accepted Answer

Time and material pricing involves charging for the direct cost of an employee's time (I), adding an amount to cover overhead costs (II), and including a handling charge for materials used (III).

Consider the Following Statements About Time and Material Pricing