What Is One of the Extraneous Variables That Affects the Rate

question 75

Multiple Choice

What is one of the extraneous variables that affects the rate of diffusion of an object?

• A) the absolute marginal value of the innovation relative to the old
• B) the actual attributes of the innovation
• C) the climatic conditions in which the market is located
• D) the method used to communicate the idea
• E) the degree of actual novelty of the innovation

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Definitions:

Weighted Average Method

The weighted average method calculates the cost of inventory based on the average cost of all similar items in inventory, adjusted for the quantity of items.

Direct Labor

Labor costs associated with employees who are directly involved in the manufacturing process of a product.

FIFO Method

"First In, First Out" method of inventory valuation where the oldest inventory items are recorded as sold first, potentially impacting cost of goods sold and ending inventory valuation.

Equivalent Unit

A concept used in cost accounting to express the amount of materials, labor, and overhead costs assigned to finished units and units in progress as a total number of finished units.