Inventory May Be Recorded at Net Realizable Value If

question 15

Multiple Choice

Inventory may be recorded at net realizable value if

• A)there is a controlled market with a quoted price.
• B)there are no significant costs of disposal.
• C)the inventory consists of precious metals or agricultural products.
• D)all of these.

Comprehend the emergence and failure of the mass manufacturing/job control unionism model due to economic instability.

Assess the relationship between scientific management principles and modern employment relations issues.

Examine the application and effects of Fordism and Taylorism in the context of assembly line production and labor relations.

Evaluate the impact of employee empowerment and education on workplace efficiency and innovation.

---

Definitions:

Actual Output

The real production volume or amount of work done, as opposed to planned or theoretical outputs.

Manufacturing Overhead

Costs that are incurred in the manufacturing process other than direct materials and direct labor, such as utilities, depreciation, and maintenance of equipment.

Denominator Activity Levels

Denominator activity levels refer to the levels of activity used to allocate fixed costs to products or services under activity-based costing or other costing methodologies.

Efficiency Variances

The difference between the actual amount of resources used in production and the standard amount expected, showing how efficiently resources are being used.