Which of the Following Functions Would You Use to Calculate

question 36

Multiple Choice

Which of the following functions would you use to calculate the arithmetic mean of a price list?

• A) MAX
• B) COUNT
• C) SUM
• D) AVERAGE

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Definitions:

Cost of Goods Sold

The direct costs attributable to the production of the goods sold in a company.

Direct Materials Cost

The total expense incurred for the raw materials that are directly utilized in the making of a product.

Work in Process

Inventory category that includes goods that are in the production process but are not yet complete.

Cost of Goods Sold

The direct costs attributable to the production of the goods sold by a company.