The standardized technique that is performed repetitively on different kind of materials to convert them into different finished products is known as __________?

Related Mcqs:

1. The companies that buy the raw materials and convert them into the finished goods for customers are a part of ____________?

   A. manufacturing sector companies
   B. merchandising sector companies
   C. service sector companies
   D. raw material companies

2. The budget sales, plus target ending finished goods inventory, minus beginning finished goods inventory is equal to ___________?

   A. budget production
   B. planned production
   C. setup production
   D. stand by production

3. The flow of goods and services, from the start of gathering materials until the delivery of products, is known as __________?

   A. flow chart analysis
   B. supply chain analysis
   C. resource chain analysis
   D. acquiring analysis

4. The companies in the industry that purchase the finished goods, and further sell the products into the market are classified as ______________?

   A. service sector companies
   B. raw material companies
   C. manufacturing sector companies
   D. merchandising sector companies

5. Total cost of producing similar products divided by number of units produced is a technique known as ____________?

   A. sale costing system
   B. job costing system
   C. price costing system
   D. process costing system

6. The spread of over allocated overhead and under allocated overhead among work in process, finished goods and goods sold cost is classified as __________?

   A. proration approach
   B. appreciation approach
   C. depreciation approach
   D. adjusted approach

7. The kind of costs that has been occurred in past are also known as __________?

   A. unrecorded costs
   B. recorded costs
   C. sunk costs
   D. bunked costs

8. The product costing technique in which markup component is added into cost base, to set a target price is known as __________?

   A. market based approach
   B. cost incurrence pricing
   C. cost plus pricing
   D. locked-in cost pricing

9. An approach in which, the over allocated and under allocated is spread in, ending balance of finished goods control, is called ___________?

   A. allocation approach
   B. unadjusted approach
   C. proration approach
   D. adjusted approach

10. The production units that do not meet customer specification, but can be sold to other customers as finished goods are classified as ____________?

    A. reduced work
    B. spoilage
    C. rework
    D. scrap