Question

A job that involves producing more than one unit of a custom product is referred to as a ____________. When a customized product is manufactured separately and in its own production, it is referred to as __________. A ____ includes the production activities for a customized product.

Answer 1

Answer:

The correct answers are in order:

1. Job Lot

2. Job order production

3. Job

Explanation:

In Accounting terms, a Job lot is defined as a batch of custom identical products that are manufactured as a group at once and are different from other products of other orders the same manufacturer may produce, therefore producing more than one unit of a custom product can be referred to as a Job Lot.

On the ohter side, Job order production is defined as the manufacturing of custom or unique products for each specific customer and not the exact same product to the same customer, therefore when a customized product is manufactured separately and in its own production, it can be referred to as Job Order Production.

And Job, in accounting terms is defined simply as the process of making a custom product, it can be as mentioned above in order production or in lot and in many other ways, this is the base or the roots of the definitions above, therefore we can say a job includes the production activities for a customized product.