The Last Step in Determining the Material Loading Charge Percentage

question 83

Multiple Choice

The last step in determining the material loading charge percentage is to

• A) estimate annual costs for purchasing, receiving, and storing materials.
• B) estimate the total cost of parts and materials.
• C) divide material charges by the total estimated costs of parts and materials.
• D) add a desired profit margin on the materials themselves.

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Definitions:

Midrange

A statistical measure that represents the halfway point between the smallest and largest values in a dataset.

Population Mean

The average of a set of characteristics or values within an entire population.

Midrange

The statistical measure calculated by adding the highest and lowest values in a dataset and then dividing by two, indicating the midpoint of the data range.

Variance

A measure of the dispersion or spread of a set of data points around their mean value, indicating how much the data points differ from the average.