Find the Median from the Following Numbers: 15, 8, 7

question 24

Multiple Choice

Find the median from the following numbers: 15, 8, 7, 5, 4, 1, 9, 16

• A)7.5
• B)7.0
• C)8.0
• D)8.5
• E)None of these

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Definitions:

Weighted-Average Method

A method in cost accounting used to average costs and quantities over a specific period, often applied in inventory valuation and costing of goods sold.

Process Costing

A costing system used where identical or similar products are mass-produced, allocating costs over the units produced during a period.

Conversion Costs

The combined costs of direct labor and manufacturing overhead incurred to transform raw materials into finished goods.

Processing Department

A division within a company where raw materials are transformed into finished products through a series of operations or processes.