Natasha Graduated at the Top of Her High School Class

question 46

Multiple Choice

Natasha graduated at the top of her high school class and received a $10,000 scholarship to attend the college of her choice.Natasha decided to attend State University and spent her $10,000 as follows: How much of the $10,000 should Natasha report as gross income?

• A)$10,000
• B)$3,400
• C)$2,500
• D)$1,500
• E)zero

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Definitions:

Department's Output

The total amount of goods or services produced by a specific department within a given period.

Direct Materials

Components and primary raw inputs used in the creation of a product, identifiable as integral parts of the finished product.

Direct Labor

The wages or expenses incurred for labor that is directly involved in the manufacturing of a product.

Process

A series of actions or steps taken in order to achieve a particular end in business or manufacturing.