Accounting for lean operations requires fewer transactions because large batches of inventory are combined in a smaller number of transactions. combined material and conversion costs are transferred to finished goods. costs are transferred from department to department allowing for better controls in costs. costs are accumulated in one department and then transferred to the next department.

Option B. Combined material and conversion costs are transferred to finished goods.

Explanation:

The reason is that the recording of the lean operations includes the transfer of the summation of conversion cost and the material cost to finished goods. And in this way we assign the costs to each product whose sale is then lowers the inventory and increases the cost of goods sold. At the same time we also record the related sales. So this is how accounting works.

1   all nations face the problem of scarcity because there are limited resources and unlimited wants. nations do not have enough factors of production to produce everything that their population wants. entrepreneurial resources initiate businesses to make new goods and services; labor resources produce goods and services.

2 there are four factors of production: natural resources, labor resources, capital resources, and entrepreneurial resources. natural resources are raw materials from nature that are used to produce goods. trees, water, and grains are natural resources. some natural resources, such as wheat and cattle, are renewable

3 wants

things that you do not need to have in order to survive, but would like to have

needs

things that you must have in order to survive

goods

physical products

services

tasks that a business perform for customers

resources

items that people can use to make or obtain what they need or want

determine

to settle or decide by choice of alternatives or possiblities

4 i really dont know