Examlex
In his studies of touch, Weber found:
Job-Order Costing
An accounting method that tracks costs individually for each job, rather than by process or department, making it suitable for companies producing unique or custom products.
Process Costing
A method of costing used to ascertain the cost of a product at each process or stage of manufacture.
Weighted-Average Method
An inventory costing method that assigns a weighted average cost to each unit of inventory on hand.
Equivalent Unit
An accounting measure used to compute the number of units produced during a reporting period, converting partially completed units into an equivalent number of fully completed units.
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