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Backflush accounting is a subset of management accounting focused on types of "postproduction issuing;" It is a product costing approach, used in a Just-In-Time (JIT) operating environment, in which costing is delayed until goods are finished.
When cost accounting was developed in the 1890s, labor was the largest fraction of product cost and could be considered a variable cost. Workers often did not know how many hours they would work in a week when they reported on Monday morning because time-keeping systems were rudimentary.
Traditional standard costing (TSC), used in cost accounting, dates back to the 1920s and is a central method in management accounting practiced today because it is used for financial statement reporting for the valuation of income statement and balance sheet line items such as cost of goods sold (COGS) and inventory
backflush accounting: a product costing approach in which costing is delayed until goods are finished Seen more broadly, JIT can include methods such as: product standardization and modularity , group technology , total productive maintenance , job enlargement , job enrichment , flat organization and vendor rating (JIT production is very ...
Just in sequence (JIS) is an inventory strategy that matches just in time (JIT) and complete fit in sequence with variation of assembly line production. Components and parts arrive at a production line right in time as scheduled before they get assembled. Feedback from the manufacturing line is used to coordinate transport to and from the ...
The best time to take metformin depends on the medication type and dosage. Some people take metformin once, twice or even three times a day, depending on the type of metformin (tablet or liquid ...
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The entire Jolly Time line had consisted of a blue canister for white popcorn and red one for yellow popcorn until 1957, when Howard finally agreed to add plastic bags.