Net Efficiency Is Defined as

question 14

Multiple Choice

Net efficiency is defined as

• A)work output/energy expended at rest times 100.
• B)work output/energy expended above rest times 100.
• C)work output/energy expended times 100.
• D)energy expended/work output times 100.

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Definitions:

Weighted Average Method

An inventory costing method that calculates the cost of ending inventory and the cost of goods sold based on the average cost of all units available for sale during the period.

Equivalent Units

Equivalent units are units of production expressed in terms of fully completed units, recalculated to account for partially completed units based on their completion percentage.

Conversion

The process of changing something from one form to another, in business often related to converting raw materials into finished goods.

Job and Process Costing

A combined accounting approach that assigns costs to individual units or batches (job costing) and tracks costs across processes for continuous production (process costing).