In Recent Years Many Businesses Have Formed a Common Information

question 8

Multiple Choice

In recent years many businesses have formed a common information source within their business organization called a database.One of the advantages of building databases is the simultaneous updating of files with common data elements.Another major advantage of the database concept is that:

• A)Database systems can be used in microcomputers as well as on large computers
• B)Database systems are simple to install and maintain
• C)Database systems are generally less expensive than separate file systems
• D)More duplication of data occurs with a database system
• E)Fewer skilled people are required to run a database system than another system

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Definitions:

Production Cost Reports

Documents detailing the total cost and production information for units of product during a specific period within a manufacturing department.

Equivalent Units

A concept used in cost accounting to represent the amount of work done on incomplete units, expressed in terms of fully completed units.

Work In Process

Items in a manufacturing process that are not yet finished products, including raw materials, labor in progress, and overhead costs.

Work In Process Account

An account that tracks the costs associated with partially completed goods in manufacturing processes.