When Can an Employer Act Unilaterally

question 65

Essay

When can an employer act unilaterally?

Identify the costs of ending work in process inventory and costs of units transferred out using the FIFO method.

Apply process costing concepts to real-world corporate data.

Differentiate between the FIFO and weighted-average methods in process costing.

Assess the impact of lean production on process costing and equivalent units of production.

---

Definitions:

Operations

The day-to-day activities required for the ongoing production of goods or services.

Inputs and Outputs

Inputs are the resources (such as labor, raw materials, and energy) used in the production process, while outputs are the products or services generated.

Competitive Strategy

Approaches that a company takes to attract customers, withstand competitive pressures, and strengthen an organization’s market position.

Customer Needs

The wants and requirements expressed by consumers, which guide product development and market strategies.