The Mean of a Data Set Is The

question 34

Multiple Choice

The mean of a data set is the:

• A)value of the middle term in a ranked data set
• B)sum of all values divided by the number of values
• C)difference between the maximum and minimum values
• D)average of the deviations of values from the average

---

Definitions:

Fixed Manufacturing Overhead

Costs that do not change with the level of production activity, such as salaries of managers, depreciation of factory equipment, and utility costs of the factory.

Absorption Costing

A product costing technique that assigns all costs of production (both variable and fixed) to the product, including overheads, to calculate its full cost.

Fixed Manufacturing Overhead

Costs that remain constant in total within manufacturing operations, regardless of the level of production, such as factory rent or salaries of permanent staff.

Traceable Fixed Expenses

Fixed costs that can be directly linked to a specific cost object, such as a department or product.