The Null Hypothesis Assumes That Production Process Is

question 9

Multiple Choice

The null hypothesis assumes that production process is

• A) out of control.
• B) in control.
• C) changing.
• D) random.

---

Definitions:

Equivalent Units

A concept in cost accounting used to calculate the cost of partially finished goods, converting them into an equivalent number of fully finished units.

FIFO Method

A inventory valuation method where the first items produced or acquired are sold or used first.

Work in Process Inventory

Products that are currently under production but have not yet reached completion.

Weighted-Average Method

An inventory costing method that assigns cost based on the average cost of goods available for sale during the period.