The stage in production process, where the manufactured goods are checked; whether the units are acceptable or not is classified as __________?
Correct answer: B. inspection point
- A. rework point
- B. inspection point
- C. spoilage point
- D. scrap point
Explanation
An inspection point is the stage at which completed or partly completed units are examined against quality standards and accepted or rejected. A rework point concerns correcting defects, while spoilage and scrap refer to the resulting losses or remnants.
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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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