In 2011,the Average American Earned About $48,000 While the Average

question 14

Multiple Choice

In 2011,the average American earned about $48,000 while the average Nigerian earned about $1,200.Which of the following statements is likely?

• A)The average American purchases more televisions than the average Nigerian.
• B)The average American has better nutrition and healthcare than the average Nigerian.
• C)The average American has a longer life expectancy than the average Nigerian.
• D)All of the above are correct.

---

Definitions:

Cost of Production Report

A summary documenting the costs associated with producing goods, usually within a manufacturing environment.

Direct Labor

The labor cost of workers directly involved in the production of goods or services, considered a variable cost.

Applied Factory Overhead

The portion of factory overhead costs that has been assigned to goods produced, often based on a predetermined rate.

Equivalent Units

A concept in cost accounting used to convert partially completed units into an equivalent number of fully completed units during a specific period for costing purposes.