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"More than 9,000 laid-off Nevada workers will qualify for a second 13-week round of extended unemployment benefits, under federal legislation signed by President Bush. [The] workers exhausted their first 13 weeks of extended benefits and will now be eligible for the new benefits, which pay an average of $293 a week." www.mercurynews.com 11/24/2008
Unemployment benefits are considered part of ________ fiscal policy. The extension of benefits would ________ fiscal policy.
FIFO Method
"First In, First Out," an inventory valuation method where the oldest stock is sold first, assuming that goods are sold in the order they were acquired.
Conversion Costs
The sum of labor and overhead costs required to convert raw materials into finished goods.
Equivalent Units
A method to express the amount of work done on partially completed goods in terms of fully completed units.
FIFO Method
An inventory valuation method that assumes items bought or manufactured first are sold first, standing for "First In, First Out."
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