A Learning Curve

question 73

Multiple Choice

A learning curve:

• A) plots man-hours per dollar versus time.
• B) is mathematically described by a parabola.
• C) should be plotted on polar coordinate graph paper.
• D) is based on the premise that organizations learn from experience.
• E) follows a normal distribution.

---

Definitions:

Work in Process

Inventory that includes all materials, labor, and overhead costs for products that are in the production process but not yet completed.

Direct Labor

The wages and related expenses for workers who are directly involved in the production of goods or services.

Raw Material

Basic materials used in the manufacturing process to produce finished goods.

Cost of Goods Sold

The direct costs attributable to the production of the goods sold by a company, including both materials and labor costs.