The sum of manufacturing and waiting time for an order is classified as ___________?
Correct answer: B. manufacturing cycle time
- A. manufacturing efficiency time
- B. manufacturing cycle time
- C. responding time
- D. value chain time
Explanation
Manufacturing cycle time includes the time spent manufacturing plus the time an order waits within the production process. It therefore captures more than active processing time alone.
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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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