________ Is Raw, Unanalyzed, and Unorganized Facts and Figures

question 34

Multiple Choice

________ is raw, unanalyzed, and unorganized facts and figures.

• A) Statistics
• B) Ratios
• C) Data
• D) Criteria

---

Definitions:

Raw Materials Inventory

This is the stock of basic materials waiting to be processed into finished goods.

Raw Materials Used

The basic materials and components required in the production process of goods.

Work in Process

Work in Process represents partially completed goods that are still in the production process at the end of a reporting period.

Labor Rate Variance

The difference between the actual cost of labor and the standard or budgeted cost, used to control and manage labor costs effectively.