Figure 5-9
the Following Information Is Available for Department Z

question 54

Multiple Choice

Figure 5-9
The following information is available for Department Z for the month of July: $\begin{array}{lcc}&\text { Units }&\text {Cost }\\\text { Work in progress, July } 1 \text { (70\% complete) } & 5,000 \\ \text { Direct materials } &&£ 6,000 \\ \text { Direct labour } &&3,000 \\ \text { Manufacturing overhead } &&4,000 \\ \text { Total work in progress, July } 1 &&£ 13,000 \\\\ \text { Started in production during July}&20,000\\\\ \text { Costs added:}\\ \text { Direct materials}&&£ 18,000\\ \text { Direct labour}&&8,000\\ \text { Manufacturing overhead}&&10,000\\ \text { Total costs added during July}&&£ 36,000\\\\ \text { Work in progress, July 31 , ( \( 80 \% \) complete) }&2,000\\\end{array}$ Materials are added at the beginning of the process. (Round unit costs to two decimal places.)
-Refer to Figure 5-9. Department Z's cost of goods transferred out using the FIFO method would be

• A)£45,775.
• B)£45,540.
• C)£44,500.
• D)£40,250.

Understand and explain the importance of echoing user input and how it enhances program usability.

Recognize and correctly utilize the various format specifiers in Java programming.

Comprehend the significance of choosing the right data types and methods for efficient coding practices.

Develop the ability to write simple Java programs that utilize input and output operations.

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Definitions:

Price Elasticity

A measure of the sensitivity of quantity demanded or supplied to changes in price, indicating how a price change can affect market equilibrium.

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a given price level at any given time.

Total Revenue

The overall amount of money generated by a business from its sales activities before any expenses are subtracted.

Total Revenue

The total income received by a firm from the sale of goods or services before any expenses are deducted.