Figure 5-1
the Flanders Ltd $\quad$ $\quad$ 5,000
Units, Ending Work in Progress

question 6

Multiple Choice

Figure 5-1
The Flanders Ltd. produces a product that passes through two processes. During June, the first department transferred 15,000 units to the second department. Materials are added uniformly in the second process. The following information was provided about the second department's operations during June: Units, beginning work in progress $\quad$$\quad$ 5,000
Units, ending work in progress $\quad$$\quad$$\quad$ 7,000
-Refer to Figure 5-1. The Flanders Corporation's units started in the second department during April would be

• A)20,000.
• B)15,000.
• C)10,000.
• D)8,000.
• E)22,000.

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Definitions:

Average Revenue

Total revenue from the sale of a product divided by the quantity of the product sold (demanded); equal to the price at which the product is sold when all units of the product are sold at the same price.

Elasticity Coefficient

A numerical value that measures the responsiveness of the quantity demanded or supplied of a good to a change in its price or other factors.

Marginal Revenue

The additional income that is generated by selling one more unit of a product or service.

Nondiscriminating Monopolist

A monopolist that charges all consumers the same price for its product or service.