In Joseph Juran's Content of Big Q Quality,training in Managing

question 4

Short Answer

In Joseph Juran's content of Big Q quality,training in managing for quality is ________.

Classify costs properly between product costs and period costs.

Recognize period costs as either selling expenses or administrative expenses.

Understand the role of direct materials and direct labor in manufacturing.

Identify the various types of factory overhead expenses.

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Definitions:

Control Accounts

General Ledger accounts that summarize the balances of numerous subsidiary accounts, used to consolidate and reconcile details.

Computerized Accounting System

An accounting system that utilizes software to record, store, and process financial transactions and data.

Month-end Postings

The journal entries made at the end of the month to record all transactions and adjustments for that month.

Financial Year

A period of twelve months used for accounting purposes and the preparation of financial statements, not necessarily aligning with the calendar year.