The Abbreviations NO (Normally Open) and NC (Normally Closed) Represent

question 50

Multiple Choice

The abbreviations NO (normally open) and NC (normally closed) represent the electrical state of switch contacts when:

• A)power is applied.
• B)power is not applied.
• C)the switch is actuated.
• D)the switch is not actuated.

Calculate equivalent units of production for materials and conversion costs using the weighted-average method.

Determine the cost of ending work in process inventory and the cost of units transferred out using the weighted-average method.

Compute the costs per equivalent unit for materials and conversion costs.

Appreciate the importance of cost accounting in pricing, cost control, and decision making within a manufacturing environment.