A standard costing system that starts with output completed and works backward to apply manufacturing costs to units sold and to inventories is called what?
A) Just-in-time costing
B) Traditional costing
C) Backflush costing
D) Value-added costing

Question

Quizplus · Accepted Answer

Backflush costing is a simplified accounting system that applies costs to products after they are produced, based on the units sold and the standard costs, rather than tracking costs through the production process.

A Standard Costing System That Starts with Output Completed and Works