Which Event Describes a Short-Run Adjustment for a Gas Station

question 384

Multiple Choice

Which event describes a short-run adjustment for a gas station?

• A) expansion of the adjacent convenience store
• B) installation of new gas tanks
• C) hiring ten more workers to stay open 24 hours
• D) addition of a car wash

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Definitions:

Process Cost Accounting

Process cost accounting is a method used to allocate production costs to units of output in continuous or repetitive manufacturing processes.

Materials Account

The materials account is used in accounting to track the cost of raw materials that are either in stock or used during the manufacturing process.

Lean Manufacturing

A systematic method for waste minimization within a manufacturing system without sacrificing productivity, aiming to produce more value for customers with fewer resources.

High Quality

A characteristic of products or services that meet or exceed customer expectations or industry standards.