Which of the Following Systems Are Used to Determine When

question 9

Multiple Choice

Which of the following systems are used to determine when the order point is reached?
I. Two-bin system.
II. Perpetual inventory system.
III. Periodic inventory system.
IV. Safety stock system.

• A) all are used to tell when the order point is reached
• B) I and II only are used
• C) I, II and III only are used
• D) I and III only are used
• E) II and III only are used

---

Definitions:

Cost Of Production Report

A detailed report typically used in process costing that summarizes the material, labor, and overhead costs encountered during a period.

Allocation

Allocation refers to the process of assigning or distributing resources, costs, or expenses among different departments, processes, or projects within an organization, according to specific rules or criteria.

Equivalent Units

A concept used in cost accounting to convert partially completed goods into a number of complete units for inventory accounting purposes.

Cost Of Production Report

A document detailing the total cost incurred during the production of goods, including material, labor, and overhead expenses.