___________ Is One of the Objective of Production Management

question 23

Multiple Choice

___________ is one of the objective of Production Management.

• A)right person
• B)right cost
• C)right quantity
• D)continuous process

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Definitions:

Process Costing

A costing system used in situations where a single, homogeneous product (such as cement or flour) is produced for long periods of time.

Weighted-Average Method

A cost accounting method that calculates the cost of goods sold and ending inventory based on the weighted average of all costs of goods available for sale.

Process Costing System

A method of accounting used to track and allocate costs associated with a continuous manufacturing process, suitable for homogeneous products.

Weighted-Average Method

A costing method that calculates the cost of goods sold and ending inventory based on the average cost of all goods available for sale during the period.