The Type of Standard That Expects No Waste and No

question 76

Multiple Choice

The type of standard that expects no waste and no inefficiencies in the production process is referred to as a(n)

• A)ideal standard.
• B)efficiency standard.
• C)realistic standard.
• D)practical standard.

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Definitions:

Order-Level Costs

Expenses directly related to a specific order, including purchasing, handling, and setup costs.

Suppliers

Businesses or individuals that provide goods or services to another entity under terms specified in a contract or agreement.

Backflush Costing

A streamlined cost accounting method that assigns costs to products after they are produced, based on the finished goods output.

Just-In-Time (JIT)

An inventory management system where materials are produced or received only as necessary to meet demand, reducing waste and costs.