The time that a company takes to create and produce a new product is classified as _________?
Correct answer: B. time factor
- A. management factor
- B. time factor
- C. customer factor
- D. chain factorHire An Accountant
Explanation
The time required to develop and manufacture a new product is a time factor because it measures the duration of the product-creation process. The other factors do not specifically describe elapsed production time.
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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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