A Measure of Central Tendency Is a Single Number That

question 79

True/False

A measure of central tendency is a single number that presents information about the spread of scores or variability in afrequency distribution.

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Definitions:

Predetermined Overhead Rate

An estimated charge per unit of activity used to allocate manufacturing overhead costs to products.

Allocation Basis

A method or principle used to distribute costs or revenues among various accounts or periods.

Weighted-Average Method

An inventory costing method that assigns a cost to inventory on the basis of the average cost of all similar items in inventory, weighted by the quantity of each item.

Direct Materials Cost

The cost of raw materials and components that go directly into the production of a product.