Frequency Distributions Are a Good Way

question 16

Multiple Choice

Frequency distributions are a good way

• A)to display bivariate information
• B)to display continuous data in the form of a graphic
• C)to interpret public opinion from survey questions
• D)to interpret the error present in estimates of dispersion

Apply the concepts of equivalent units of production in calculating costs in a process costing environment.

Understand the role and computation of transferred-in costs in a process costing system.

Describe how to determine the cost of goods transferred out and the ending inventory in a process cost system.

Calculate the total equivalent units for direct materials and conversion costs using the FIFO method.

---

Definitions:

Checking Account

A bank account that allows the holder to withdraw funds using checks or a debit card, typically used for daily transactions.

Deposit

A sum of money placed into an account or given as a security for the future payment of a service.

Certified Check

A check validated by a bank where the bank guarantees the availability of the funds behind the check.

Personal Check

A hand-written document that orders a bank to pay a specific amount of money from the writer's account to another party.