In the standardize Step of 5S,we ______

question 64

Multiple Choice

In the standardize step of 5S,we ______.

• A)ensure that all activities conform to ISO specifications
• B)eliminate variation from the workflow by establishing operating procedures
• C)create a place for each item in the workplace
• D)make extensive use of Red Tags

Identify costs associated with selling and administrative activities.

Identify direct materials, direct labor, and factory overhead costs.

Classify costs as either direct or indirect costs.

Compute cost of goods manufactured and cost of goods sold.

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Definitions:

Deferred Tax Asset

A tax benefit that arises from temporary differences between the tax and accounting treatment of assets and liabilities, to be utilized in future periods.

Income Taxes Payable

This account reflects the amount of income taxes a company owes to the government but has not yet paid, representing a liability on the balance sheet.

Income Tax Expense

The cost incurred by businesses or individuals due to earnings, calculated according to government tax rates and laws.

Pretax Financial Income

The income of a company before taxes have been deducted, commonly used in the context of reporting and financial analysis.