If the Total Manufacturing Costs Are Greater Than the Cost

question 56

Multiple Choice

If the total manufacturing costs are greater than the cost of goods manufactured which of the following is correct?

• A) Work in Process Inventory has increased.
• B) Finished Goods Inventory has increased.
• C) Work in Process Inventory has decreased.
• D) Finished Goods Inventory has decreased.

---

Definitions:

Desirable Market Outcomes

Market results that are sought after for their positive impact on consumers, producers, and the overall economy.

Households

Units consisting of people living together, either related by blood, marriage, or adoption, making economic decisions as a single entity.

Central Planning

An economic system where the government makes all decisions on the production and distribution of goods and services, typically found in socialist economies.

Government Guiding

The involvement or direction by government agencies in shaping and influencing the economic policies and practices within a country.