91% 18. A management concept based on an understanding of the changing wants and needs of customers, and which leads to flexible product designs and production processes, is called: a Continuous improvement b. Customer orientation c. Just-in-time d. Theory of constraints e. Total quality management 19. A document in a job order costing system that is used to record the costs of producing a job is ain a. Job cost sheet b. Job lot Finished goods summary d Process cost system e. Units-of-production sheet 20. The three major cost components of manufacturing a product are: a Direct materials, direct labor and factory overhead b. Period costs, product costs, and conversion costs c. Indirect Labor, Indirect materials and fixed expenses d Variable costs, fixed costs and period costs Overhead costs, fixed costs and direct costs