The Unit-Costing Method That Excludes Prior-Period Work and Costs in Computing

question 176

Multiple Choice

The unit-costing method that excludes prior-period work and costs in computing current-period unit work and costs is called:

• A)Transferred-in cost method
• B)FIFO costing method
• C)Weighted average method
• D)Equivalent units method

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Definitions:

Consumer Price Index

An index that measures the weighted average of prices of a basket of consumer goods and services, such as transportation, food, and medical care.

Substitutes

Products that serve similar purposes. An increase in the price of one will cause an increase in demand for the other (examples are hamburgers and tacos, butter and margarine, Chevrolets and Fords).

Cable TV

is a system of delivering television programming to consumers via radio frequency signals transmitted through coaxial cables.

Satellite TV

A television system that delivers programming to viewers by broadcasting from a communications satellite orbiting the Earth directly to the viewer's location.