What Is the Term for the Cost of Units Completed

question 47

Multiple Choice

What is the term for the cost of units completed during a period?

• A)cost of goods sold
• B)cost of goods manufactured
• C)current manufacturing costs
• D)finished goods inventory cost

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Definitions:

Japanese Concept

Management and production practices originating in Japan that emphasize efficiency, continuous improvement, and worker involvement, such as Kaizen and Lean Manufacturing.

Bullwhip Effect

A phenomenon in supply chains where small fluctuations in demand at the retail level cause increasingly larger fluctuations in demand at the wholesale, distributor, and manufacturer levels.

Quantity Discounts

Price reductions given for purchasing goods in large quantities, often used by sellers to encourage bulk purchases.

Annual Volume

The total amount of something produced or processed in a year.