Which of the Following Statements Is/are Correct

question 22

Multiple Choice

Which of the following statements is/are correct?
i.Some waxes are esters of fatty acids with an alcohol portion that is a monohydroxyl alcohol with a long carbon chain
ii.Some waxes serve as a water-resistant coating on skin,fur,and feathers,but most waxes are structural
iii.The general structure for many waxes is that of an ether

• A)i only
• B)i and ii
• C)i and iii
• D)ii and iii
• E)i, ii, and iii

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Definitions:

Unit Product Cost

The cost of producing one unit of a product, including direct materials, direct labor, and manufacturing overhead.

Absorption Costing

A costing approach that integrates both direct and indirect costs associated with manufacturing into the product's total cost.

Ending Inventory

The value of the goods available for sale at the end of an accounting period, calculated as beginning inventory plus purchases minus cost of goods sold.

Variable Costing

A costing method where only variable costs are considered when determining the cost of goods sold, excluding fixed overhead.