A Heat Map Uses _____________ to Indicate Trends or Patterns

question 61

Multiple Choice

A heat map uses _____________ to indicate trends or patterns in data.

• A)Temperature
• B)Trend lines
• C)Color
• D)Dials or gauges

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Definitions:

Equivalent Units

A concept in cost accounting used to calculate the cost of partially completed goods by converting them into a number of fully completed units.

Conversion Cost

The sum of labor and overhead expenditures incurred to convert raw materials into finished goods.

FIFO Method

"First In, First Out," an inventory valuation method where goods that are first added to inventory are the first ones considered sold, used in accounting to calculate cost of goods sold and ending inventory.

Equivalent Units

A concept in cost accounting used to express the amount of materials, labor, and overhead a company has put into production in terms of fully finished units.