Below Is a List of a Few Variables for Which

question 37

Essay

Below is a list of a few variables for which data were collected from various telecommunication companies. On the line to the right of each variable, identify whether it is transactional (T) or a demographic (D).
1. Type of cell phone plan.____
2. Number of residents in household._____
3. Subscription to international channels.___
4. Zip code.____
5. Monthly electricity usage.____

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Definitions:

Weighted-Average Method

An inventory costing method that averages the cost of goods available for sale and assigns the average cost to both the cost of goods sold and remaining inventory.

Equivalent Units

Equivalent units are a concept in cost accounting used to compute the number of units that could have been completed given the amount of work done, taking partially completed units into account.

Transferred-In Costs

Costs associated with units of product moved from one production process to another in the manufacturing cycle.

Prior Processing Department

A section within a manufacturing facility where raw materials undergo initial stages of processing before moving to subsequent phases of production.