In Creating a Circle Graph, What Fractional Part of the Circle

question 63

Short Answer

In creating a circle graph, what fractional part of the circle should be used to show that $50 of a total of $300 is budgeted for clothes? (Answer as a fraction in lowest terms.)

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Definitions:

Ending Inventory

Ending Inventory refers to the total value of goods available for sale at the end of an accounting period, calculated by adding purchases to beginning inventory and subtracting the cost of goods sold.

Conversion Costs

The sum of labor and overhead costs incurred to convert raw materials into finished goods.

Weighted-Average Method

A cost accounting method that calculates the cost of units produced during a period based on the weighted average of the costs of units available for sale or use.

Processing Department

A division within a factory where a specific stage of production is completed, typically involving a series of operations or processes.