If the input used in manufacturing is smaller in quantity and output produced is greater in quantity, this will be categorized under ____________?
Correct answer: B. greater efficiency
- A. lesser effective
- B. greater efficiency
- C. smaller efficiency
- D. greater effective
Explanation
Using fewer inputs to produce more output indicates that resources are being used more productively. This is classified as greater efficiency.
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About Cost Accounting
Cost accounting measures and analyses the cost of producing goods or providing services for planning, control and pricing decisions. It covers direct and indirect costs, fixed and variable costs, job and process costing, break-even analysis, marginal costing, overhead allocation, and the difference between product cost and period cost.
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