Table 3-2 -Refer to Table 3-2.The Table Above Shows the Demand Schedules

question 221

Multiple Choice

Table 3-2

-Refer to Table 3-2.The table above shows the demand schedules for caviar of two individuals (Ari and Sonia) and the rest of the market.At a price of $75, the quantity demanded in the market would be

• A)6 oz.
• B)46 oz.
• C)52 oz.
• D)127 oz.

Know the method of calculating equivalent units under FIFO and weighted-average methods.

Understand how costs flow through the accounts in a process costing system.

Recognize the appropriateness of applying process costing in various manufacturing scenarios.

Understand the concept of equivalent units of production in a process costing system.