Which of the Following Is Not One of the 8

question 23

Multiple Choice

Which of the following is not one of the 8 major categories dividing up the market basket of goods and services used to figure the Consumer Price Index?

• A)Education and communication
• B)Child care
• C)Recreation
• D)Apparel

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Definitions:

Finished Goods

Products that have completed the manufacturing process and are ready for sale to customers.

Manufacturing Overhead

This includes all indirect manufacturing costs that cannot be directly attributed to specific units produced, such as utilities or salaries for factory supervisors.

Work In Process

A phase in manufacturing where items are partially completed but not yet ready for sale.

Job Cost Sheet

A form that records the direct materials, direct labor, and manufacturing overhead cost charged to a job.