The Direct Materials Budget Contains Both Quantity and Cost Data

question 103

True/False

The direct materials budget contains both quantity and cost data.

---

Definitions:

Central Tendency

A statistical measure that identifies a single value as representative of a distribution of data, often summarized by the mean, median, or mode.

Measures Central Tendency

Statistics that describe the center of a data distribution, including mean, median, and mode.

Mean

The average value of a series of numbers, found by taking the sum of the numbers and dividing this sum by the quantity of numbers in the series.

Median

In a sequence of numbers sorted from lowest to highest, the median represents the number that lies at the midpoint.