(Figure: Demand and Supply) Refer to the Figure

question 19

Multiple Choice

(Figure: Demand and Supply) Refer to the figure. At theequilibrium quantity, total surplus is:

• A)$960.
• B)$480.
• C)$320.
• D)$240

---

Definitions:

Direct Materials

Raw materials that are directly traceable to the production of a specific product and included in the cost of that product.

Weighted-Average Method

An inventory costing method that calculates the cost of goods sold and ending inventory based on the weighted average cost of all materials bought during the period.

Dust Density Sensors

Devices used to detect and measure the amount of dust particles in the air for environmental monitoring or industrial processes.

Equivalent Unit

A measurement used in process costing that converts partially completed units into an equivalent number of fully completed units to accurately measure the output of a production process.