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In a periodic inventory system,only one journal entry is required to record the sale of inventory.
Non-value-added Activities
Tasks or processes that do not contribute to the customer's value or the final product, often considered for elimination or reduction.
Throughput Time
The total time taken for a unit to pass through a production process, from start to finish, including both processing time and waiting time.
Manufacturing Cycle Efficiency
A measure of the efficiency of the production process, calculated as the ratio of value-added time to total cycle time.
Delivery Cycle Time
The total time taken from when a customer places an order to the time the product is delivered to the customer.
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