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Sanger Corp

question 96

Multiple Choice

Sanger Corp.uses a process costing system in which direct materials are added at the beginning of the process and conversion costs are incurred uniformly throughout the process.Beginning inventory for January consisted of 1,000 units that were 40% completed.10,000 units were started into the process during January.On January 31,the inventory consisted of 500 units that were 70% completed.What would be the equivalent units for conversion cost using the FIFO method?

Explain the law of supply and the law of demand.

Understand the relationships between prices and quantity demanded or supplied.

Recognize the effects of shifts in supply and demand curves on market outcomes.

Define demand and understand the factors that affect it.

Definitions:

Mean Number

The average value of a set of numbers, calculated by dividing the sum of all numbers by the quantity of numbers.

Batches

In manufacturing and computing, batches refer to groups of items or data processed or produced at one time, often for efficiency and tracking purposes.

Defect Rate

The frequency at which defects, flaws, or errors occur in a product, process, or system, usually expressed as a ratio or percentage of the total output.

Standard Deviation

A metric that gauges the extent of spread or scatter around the mean within a group of numbers, illustrating the distance of the values from their central point.