Examlex
The Rachet effect is the concept that humans continually improve; that they don't go backwards or revert to a previous state
Production Data
Information related to the manufacturing process, including quantities produced, machine hours used, and raw materials consumed.
Equivalent Units
A concept in process costing that converts partially completed units into a number of fully completed units for accounting purposes.
Physical Units
A measure used in cost accounting to quantify units of production or inventory in a tangible, countable form.
Percentage of Completion
An accounting method used to recognize revenues and expenses of long-term projects proportionally to the work completed.
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