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MATCHING
-Term that describes using resources at a replaceable rate with no net accumulation of pollution
Finishing Department
The last phase in the manufacturing process where products are completed, polished, inspected, and prepared for sale or shipment.
First-In, First-Out
An inventory valuation method where the goods first purchased or produced are the first ones sold, assuming that older inventory is used up first.
Equivalent Units
A concept in cost accounting used to allocate costs to mass-produced items that are not identical, allowing for the calculation of per-unit costs at various stages of production.
Conversion Cost
The total cost of converting raw materials into finished goods, comprising both direct labor costs and manufacturing overhead costs.
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