Which of the Following Statements Best Defines Backflush Costing System

question 89

Multiple Choice

Which of the following statements best defines backflush costing system?

• A) an integrated costing system covering a company's accounting, distribution, manufacturing, purchasing, human resources, and other functions
• B) a costing system that omits recording some of the journal entries relating to the stages from the purchase of direct materials to the sale of finished goods
• C) a push-through system in which each component in a production line is produced immediately as needed by the next step in the production line
• D) a costing system that comprises a single database that collects data and feeds it into software applications supporting all of a company's business activities

Compute profit margin, investment turnover, and return on investment using the DuPont formula.

Determine the residual income for divisions.

Match financial management concepts with their definitions.

Prepare budget performance reports and analyze variances.

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Definitions:

Establishment Clause

One of two provisions in the First Amendment of the U.S. Constitution that protect citizens’ freedom of religion. It prohibits (1) the establishment of a national religion by Congress and (2) the preference of one religion over another or of religion over nonreligious philosophies in general.

First Amendment

An amendment to the U.S. Constitution protecting freedoms concerning religion, expression, assembly, and the right to petition.

Fourth Amendment

A provision in the United States Constitution that protects citizens from unreasonable searches and seizures, ensuring the right to privacy.

Thermal Imager

is a device that converts infrared radiation (heat) into visible light in order to analyze a particular object or scene.