$134 Is What Percent of $655 Accurate to Three Significant

question 284

Short Answer

$1.34 is what percent of $655 accurate to three significant figures?

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Definitions:

Fixed Costs

Expenses that do not change in total amount with fluctuations in business activity level, such as rent, salaries, and insurance.

Inventory

The raw materials, work-in-progress, and finished goods that a company holds for the purpose of sale in the future.

Absorption Costing

A method of accounting that encompasses all costs associated with manufacturing a product, including direct materials, direct labor, and all manufacturing overhead costs, both fixed and variable.

Variable Costing

A costing method where only variable costs (costs that change with production volume) are included in the product cost, excluding fixed costs.