When Should You Use a Colon? Give at Least Two

question 23

Essay

When should you use a colon? Give at least two situations and give an example for each.

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Definitions:

Direct Labor

The wages and other costs for labor directly involved in the production of goods or provision of services.

Weighted Average Method

An inventory valuation method where costs of goods sold and ending inventory are determined by taking the weighted average of all units available for sale during the period.

Work in Process Inventory

Inventory that includes goods that are in the production process but are not yet complete.

Equivalent Units

A concept used in process costing that converts partially completed units into a number of fully equivalent units.