In a backflush accounting system, a single account is used for the following Raw materials and work in process inventories. O Finished goods inventories and cost of goods sold. O Factory overhead and raw materials. O Work in process and finished goods inventories. What kind of cost is caused by an event that results in more than one ?product or service at the same time A) byproduct cost joint cost separable cost main cost The prime limitation of traditional - based costing systems is the use of volume-based Rates o Variances O Standards o Activity o Companies that would benefit from backflush costing include companies which have fast manufacturing lead times whose inventories vary from period to period O Both which have fast manufacturing lead times and whose inventories vary O from period to period are correct. companies that require audit trails All costs incurred beyond the split of point that are assignable to one or more individual products are called joint cost o byproduct cost separable cost main cost o The accounting system used with JIT manufacturing is called Backflush costing. The push system. Perpetual inventory costing. O First-in, first-out. O