Week 4 Flashcards
1
Q
Amount of Finished Goods formula
A
FG = Beginning WIP + Started - End WIP
2
Q
Income shifting meaning
A
Moving income or expenses from one period to another
3
Q
joint products meaning
A
products that are produced together
4
Q
By-product meaning
A
has little or no value relative to main product
5
Q
Scrap meaning
A
Technically has value
6
Q
Waste meaning
A
Has negative NPV
7
Q
Product-level costs meaning
A
costs associated with maintaining a product line. Adding new product lines adds more cost but fixed for any additional units within the product line
8
Q
Facility costs meaning
A
Costs associated with having any operations running at all
