Backflush costing:
A)Is a simplified approach to determining product cost that is used when there is little or no work-in-process inventory.
B)Involves the use of standard costing.
C)Allows product costs to be quickly and conveniently calculated
D)Is an approach to determining product cost that is used when JIT is used.
E)ALL of the above.

Question

Quizplus · Accepted Answer

Backflush costing is a simplified approach used when there is minimal work-in-process inventory, often in conjunction with JIT systems. It typically involves standard costing to facilitate quick and convenient calculation of product costs.

Backflush Costing