Exhibit 7-12 
-Refer to Exhibit 7-12. Calculate the total tax revenue that the government will receive if it imposes a tax of $4 per unit of output.
Definitions:
Weighted-Average Method
An inventory costing method that assigns a cost to inventory on the basis of the average cost of all similar items in the inventory.
Lubricating Department
A specialized division in a manufacturing or maintenance facility focused on the application of lubricants to machinery and equipment to reduce friction and wear.
Assembly Department
A section in a manufacturing plant where components are assembled into finished goods.
Beginning Work
The value or quantity of inventory on hand at the start of a accounting period before any production or sales activities have occurred.
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