Burger King's Point-Of-Sale Device Built into Every Burger King Cash

question 58

Multiple Choice

Burger King's point-of-sale device built into every Burger King cash register helps the company do all of the following except:

• A)determine how many workers will be needed on a given day.
• B)keep track of inventory for reordering purposes.
• C)determine if a food theft has occurred.
• D)calculate the profit made by the store during a given time period.

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Definitions:

Equivalent Units

A concept in cost accounting used to convert partially completed goods into an equivalent number of fully completed units for inventory accounting purposes.

Conversion Costs

The combined costs of direct labor and overhead required to transform raw materials into finished goods.

First-In, First-Out

An inventory valuation method where the oldest inventory items are recorded as sold first.

Equivalent Units

This refers to the quantity of partially completed goods, expressed in terms of fully completed units, used in process costing to accurately allocate costs between completed and unfinished items.