_____ Are Calculated as Average Inventory in Units X Unit

question 46

Multiple Choice

_____ are calculated as Average Inventory in Units x Unit Price x Carrying Cost per Year.

• A)Quality costs
• B)Ordering costs
• C)Inventory carrying costs​
• D)MRO costs
• E)Cycle counting costs

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Definitions:

W-4 Form

A tax form used by employees to indicate their tax situation to their employer, such as number of dependents and marital status, affecting the amount of federal income tax withheld from their pay.

FICA-Medicare

A federal payroll tax that funds Medicare, the U.S. health insurance program for individuals aged 65 and over or who meet other specific criteria.

Gross Wages

Gross Wages refer to the total amount of compensation earned by an employee before any deductions or taxes are taken out.

Net Wages

The amount of an employee's earnings after all deductions, such as taxes and retirement contributions, have been subtracted.