In a Just-In-Time (JIT) System, Direct Labor Is Included in Conversion

question 65

True/False

In a just-in-time (JIT) system, direct labor is included in conversion costs.

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Definitions:

Acquisition

The act of purchasing or otherwise obtaining control of something, often referring to business transactions where one company buys another.

Maintenance

The process of preserving a condition or situation, such as keeping machinery in operational order or sustaining a level of service.

Customer-Oriented

Being customer-oriented means prioritizing and addressing the needs, preferences, and satisfaction of customers in business practices and product development.

Banks

Financial institutions licensed to receive deposits and provide loans to individuals and businesses.