Figure 2-8

question 204

Multiple Choice

Figure 2-8.Last year Quest Company incurred the following costs:
Quest produced and sold 2,000 units at a sales price of $125 each. Assume that beginning and ending inventories of materials, work in process, and finished goods were zero.
-Refer to Figure 2-8. Total product costs were?

• A) $190,000
• B) $100,000
• C) $150,000
• D) $236,000

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Definitions:

Geometric Mean

The nth root of the product of n numbers, used to calculate average rates of return or growth over time.

Closing Stock Price

The final price at which a stock is traded during a trading session on a stock exchange.

Mean

The average of a set of values, calculated by adding all the numbers together and dividing by the count of the values.

Standard Deviation

A quantitative assessment that determines the range of difference or dispersion in a collection of data.