The ____ Defines Quality as "A Subjective Term for Which

question 75

Multiple Choice

The ____ defines quality as "a subjective term for which each person has his or her own definition."

• A)U.S.Department of Commerce
• B)United Nations
• C)American Society of Quality
• D)International Standards Organization

---

Definitions:

FIFO Process Costing

A method of costing that assumes the first goods produced or acquired are the first ones sold or used in production.

Conversion Costs

The combined costs of direct labor and manufacturing overhead, which are incurred to convert raw materials into finished goods.

Opening Inventory

The value or quantity of goods available for sale or use at the beginning of an accounting period.

Weighted Average Process Costing

A method of cost accounting used in production where costs for materials, labor, and overhead are averaged over the units produced, taking into consideration the degree of completion.