Case-Based Critical Thinking Questions

question 22

Multiple Choice

Case-Based Critical Thinking Questions
Case 1-2
Sam is a distributor of ceramics.He uses Excel 2010 to record his inventory and order forms.Sam's worksheet for his company's monthly orders needs to display summary information including total number of items ordered,and the amount of revenue generated from those orders.
-First Sam will add the number of orders.He chooses to use the ____ function from the AutoSum feature.

• A) MAX
• B) ADD
• C) SUM
• D) TOTAL

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Definitions:

Raw Materials Inventory

The stock of unprocessed materials used in the manufacturing process.

Factory Labor

Workforce involved in producing goods within a factory setting, often comprising a significant portion of production costs.

Manufacturing Overhead Applied

The charging of manufacturing overhead costs to units produced, usually based on a predetermined overhead rate, including costs not directly tied to production like rent and utilities.

Overapplied Overhead

Occurs when the allocated or applied overhead for a product exceeds the actual overhead expenses incurred.