Which of the Following Temporary Accounts Is Typically Used in Just-In-Time

question 86

Multiple Choice

Which of the following temporary accounts is typically used in just-in-time management systems to accumulate direct labor and manufacturing overhead costs?

• A)Adjustments account
• B)Conversion Costs account
• C)Manufacturing Overhead account
• D)Work-in-Process account

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Definitions:

Oxidation-reduction

Chemical reactions involving the transfer of electrons from one substance to another, affecting the oxidation state of the involved species.

Precipitation Reaction

A precipitation reaction is a chemical reaction in which soluble ions in separate solutions react to form an insoluble compound that settles out of solution as a solid precipitate.

Limiting Reactant

The limiting reactant is the substance in a chemical reaction that is completely consumed first, thereby determining the maximum amount of product that can be formed.

Wax

A diverse class of organic compounds that are malleable at slightly higher temperatures than room temperature and mainly consist of hydrocarbons.