The Prefix Micro Refers to Which Power of Ten

question 11

Multiple Choice

The prefix micro refers to which power of ten?

• A) 10^-12
• B) 10^-9
• C) 10^-6
• D) 10^-3

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Definitions:

Conversion Cost Per Equivalent Unit

This is the cost incurred during the manufacture of a product that includes both direct labor and manufacturing overhead costs, divided by the number of equivalent units produced.

Work In Process-Assembly

Items in a manufacturing process that have been partially completed but are not yet finished goods.

First-In, First-Out

An inventory valuation method where goods first added to inventory are the first ones to be sold.

Equivalent Units

A conceptual unit used in cost accounting to represent the amount of work done on partially completed goods, allowing for the calculation of unit costs.