Observations Are Used to Supply Values Corresponding to the Starting

question 46

Multiple Choice

Observations are used to supply values corresponding to the starting or current state of the atmosphere for all of the variables carried in the model.

• A)analysis
• B)prediction
• C)post-processing
• D)none of these

---

Definitions:

Conversion Costs

The total expenses of direct labor together with manufacturing overheads spent in transforming raw materials into completed products.

Process Cost Accounting System

A bookkeeping mechanism for distributing costs among similar items that are produced in large scale and without interruption.

Equivalent Units of Production

A concept in cost accounting used to assign costs to partially completed goods, calculated by taking the number of units in the production process and converting them into a number of completed units.

Conversion Cost

The combined total of labor and manufacturing overhead costs necessary to convert raw materials into finished products.