FIGURE 2-1 -Refer to Figure 2-1. What Does the Arrow from the the Arrow

question 60

Multiple Choice

FIGURE 2-1

-Refer to Figure 2-1. What does the arrow from the product markets to the firms represent?

• A) revenue
• B) goods and services sold
• C) money income
• D) wages, rent interest, and profits

Differentiate between plantwide and departmental overhead rates.

Understand the impact of machine-hours and direct labor-hours on overhead application.

Estimate manufacturing overhead for budgeting or costing purposes.

Analyze job costing data to make pricing decisions.