A Nursing Student Is in the Final Term of an Associate

question 19

Multiple Choice

A nursing student is in the final term of an Associate Science of Nursing (ASN) program and is preparing for licensure. Prior to licensure the candidate must provide evidence of: (select all that apply)

• A) graduation from a nursing program.
• B) graduation from high school or high school equivalency.
• C) evidence of current malpractice insurance.
• D) evidence of plan to continue study to obtain a minimum of a BSN within 2 years.
• E) validation of skills competence provided by a certifying agency.

Define and differentiate between conversion costs and direct material costs in manufacturing processes.

Recognize the significance of transferred-in costs and how they integrate into the product's cost through subsequent departments.

Analyze and calculate the average conversion cost per unit using given data.

Calculate equivalent units for conversion and materials using the FIFO and average cost methods.

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Definitions:

Long-run Average Total Costs

The per-unit production cost when all factors of production are variable and optimized for scale.

Long-run Average Total Cost

The per-unit cost of production when all inputs, including those typically fixed, can be varied, showing economies of scale if downward sloping.

Economies of Scale

Cost advantages reaped by companies when production becomes efficient, as the average cost of production falls with increasing output.

Constant Returns to Scale

A situation in production where increasing the input of all resources by any proportion yields an increase in output by the same proportion.