Exhibit 3-3

question 29

Multiple Choice

Exhibit 3-3

                          Good Y
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Refer to Exhibit 3-3. A movement from point W to point Z would have been the result of

• A)a reduction in the price of good Y.
• B)an increase in the number of buyers in the area where good Y is being sold.
• C)a decrease in business taxes paid by the producers of good Y.
• D)a decrease in the number of buyers in the area where good Y is being sold.
• E)an increase in the price of good Y.

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Definitions:

Factory Overhead

Indirect manufacturing costs that cannot be directly attributed to specific products, including costs associated with maintaining and operating the production facilities.

Materials Requisitions

Documents or electronic requests used in manufacturing to authorize the release of materials from inventory for production.

Job Order Cost Accounting

A cost accumulation and assignment method, specifically used for tracking and reporting costs for each individual job or project separately.

Manufacture

The process of converting raw materials or components into finished goods through the use of labor, machinery, tools, and chemical or biological processing.