For the Following Numbers, (I) Use a Calculator to Add;

question 30

Multiple Choice

For the following numbers, (i) use a calculator to add; and (ii) estimate the sum by rounding the numbers to the nearest ten-thousand and adding. 82,137
38,603
10,151
32,607
+
54,072
¯¯¯¯¯¯

• A) (i) 227,670 ; (ii) 210,000
• B) (i) 217,570 ; (ii) 200,000
• C) (i) 217,570 ; (ii) 210,000
• D) (i) 227,670 ; (ii) 200,000
• E) (i) 207,560 ; (ii) 230,000

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Definitions:

Raw Materials Inventory

The total cost of all the materials that are used in the production of goods but have not yet been transformed into finished products.

Raw Materials Purchases

Raw Materials Purchases involve the acquisition of basic inputs needed to manufacture goods or provide services, a crucial component of production costs.

Direct Materials Standards

These are predefined criteria determining the cost and quantity of direct materials supposed to be used in production processes.

Work in Process Inventory

Goods that are partially completed in a manufacturing process but not yet ready for sale.