With Respect to the Five S's, Standardizing Locations for Tools

question 23

Multiple Choice

With respect to the five S's, standardizing locations for tools, files, equipment, and all other materials is called ________.

• A) seiri
• B) seiton
• C) seiso
• D) seiketsu
• E) shetsuke

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Definitions:

Weighted-Average Method

An inventory costing approach that assigns a weighted average cost to each unit of inventory, used in valuing the cost of goods sold and ending inventory.

Process Costing System

An accounting method used to allocate costs to units of product in continuous processes or industries where the products are indistinguishable from each other.

Equivalent Unit

A measure used in cost accounting to represent the amount of work done on partial units of production, making them comparable to fully completed units.

Cost Reconciliation Report

A report that reconciles the total costs incurred with the costs accounted for in a specific period, used in cost accounting to ensure accuracy.