Velasco Productions Has Provided the Following Information for the Year

question 203

Multiple Choice

Velasco Productions has provided the following information for the year: $\begin{array} { | l | r | } \hline \text { Direct Labor } & \$ 150,000 \\\hline \text { Beginning Work-in-Process Inventory } & 63,000 \\\hline \text { Direct Materials Used } & 269,000 \\\hline \text { Ending Work-in-Process Inventory } & 52,900 \\\hline \text { Manufacturing Overhead } & 135,000 \\\hline\end{array}$ During the year,Velasco produced 71,220 units of product.Calculate the unit product cost.(Round your answer to the nearest cent.)

• A) $7.92
• B) $6.77
• C) $7.78
• D) $8.66

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Definitions:

Categorical Data

Data that can be categorized into groups or categories that are mutually exclusive, without any natural ordering.

Obtaining

The act of acquiring or getting something through effort or request.

VLOOKUP

A function in spreadsheet programs that searches for a value in the first column of a table and returns a value in the same row from a specified column.

Table Range

The difference between the highest and lowest values in a table, often used in data analysis to understand the variability within the data.