Which of the Following Features of Classification, Used in Excel

question 21

Multiple Choice

Which of the following features of classification, used in Excel, for a particular database will necessarily be coded to a certain value?

• A) categorical variables
• B) non-numerical variables
• C) predictor variables
• D) numerical variables

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Definitions:

Absorption Costing

An accounting formula that rolls in every cost incurred in manufacturing—direct materials, direct labor, and both variable and fixed manufacturing overhead—into the product’s final cost.

Markup

The amount added to the cost price of goods to cover overhead and profit, expressed as a percentage of the cost.

Return On Investment

A financial metric used to evaluate the efficiency or profitability of an investment, calculated by dividing the gain from the investment by its cost.

Absorption Costing

An approach to product costing that compounds all expenses involved in manufacturing, such as direct materials, labor costs, and all types of overheads, into the product’s final cost.