A System of Accounting in Which Costs Are Accumulated and Then

question 19

Multiple Choice

A system of accounting in which costs are accumulated and then measured per unit at the end of a period by combining costs per equivalent unit from various departments is a:

• A)General cost accounting system.
• B)Process costing system.
• C)Job order cost accounting system.
• D)Manufacturing cost accounting system.
• E)Work in Process accounting system.

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Definitions:

Manufacturing Cycle Efficiency

A measure of the efficiency in manufacturing, calculated as the ratio of value-added production time to total cycle time.

Turnover

Refers to the total sales generated by a company during a specific period.

ROI

Return on Investment; a financial metric used to evaluate the efficiency of an investment or compare the efficiency of several investments.

Return On Investment

Return on investment (ROI) is a financial metric used to evaluate the efficiency of an investment, calculated as the net profit divided by the cost of the investment.