What Was the Highest Price Per Troy Ounce for the December

question 63

Multiple Choice

What was the highest price per troy ounce for the December silver futures contract today?
Silver - 5,000 troy oz.:
Dollars and cents per troy oz. $$\begin{array} { | r | r | r | r | r | r | } \hline & \text { Open } & \text { High } & \text { Low } & \text { Settle } & \text { Chg } \\\hline \text { Dec } & 10.185 & 10.225 & 9.530 & 10.220 & - 0.605 \\\hline \text { Mar } & 10.190 & 10.250 & 9.600 & 10.244 & - 0.564 \\\hline\end{array}$$

• A)$10.185
• B)$10.225
• C)$10.250
• D)$10.814
• E)$10.830

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Definitions:

Direct Labor-Hours

Direct labor-hours measure the amount of time workers or employees spend directly working on producing goods or providing services.

Departmental Predetermined Rate

A rate used to allocate overhead costs to products or services, calculated in advance and based on the estimated costs and activity levels of a specific department.

Assembly Department

A segment in manufacturing where components are assembled into finished products.

Machine-Hours

The total number of hours that machines are operated in the manufacturing process.