Components or Parts of Finished Products Are Referred to As

question 64

Multiple Choice

Components or parts of finished products are referred to as:

• A)upstream materials.
• B)raw materials.
• C)secondary products.
• D)intermediate products.
• E)mid-chain products.

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Definitions:

Variable Selling

Costs that change in proportion to the volume of goods or services sold.

Administrative Expense

Costs related to the general operation of a company that are not directly tied to a specific department or product, like salaries of executive officers and support staff.

Direct Labour

The work of factory employees that can be directly associated with producing specific goods or services.

Variable Manufacturing Overhead

Indirect manufacturing costs that vary with the level of production, such as utilities for the production area.