Examlex
Which of the following is the best definition of what economists define as total income?
Processing Department
An organizational unit where work is performed on a product and where materials, labor, or overhead costs are added to the product.
Process Costing
An accounting system used to apply costs to similar products that are mass-produced in a continuous fashion.
Job-Order Costing
A costing system used in situations where many different products, jobs, or services are produced each period.
Sequential Manufacturing System
A sequential manufacturing system is a production process where operations are carried out in a specific, consecutive order to complete the manufacturing of a product.
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