Quiz 3

JIT manufacturing emphasizes

All of these - continuous improvement - elimination of waste - reduction of work-in-process inventories

_________ is the whole units that could have been produced in a period given the amount of manufacturing inputs used

Equivalent units of output

In a process cost system, which of the following must be TRUE?

There is no need to use time tickets to assign cost to processes

The two method used to determine equivalent units of production are:

Weighted average and FIFO

When conversion costs are uniform

labor and overhead are added at the same rate but materials are added at a different point