Use the Chart Below to Answer the Following Questions Regarding

question 83

Multiple Choice

Use the chart below to answer the following questions regarding flow chart symbols.

-Which symbol would be used in a flowchart to note that every sales order contains the customer name,address,product number,quantity ordered,item cost,and credit terms?

• A)#5
• B)#8
• C)#11
• D)#16

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Definitions:

Fixed Manufacturing Overhead

Costs that do not change with the level of production output and are essential for the manufacturing process, such as rent, property taxes, and salaries of permanent staff.

Unit Product Cost

The cost associated with producing a single unit of output, including direct materials, direct labor, and allocated overhead costs.

LIFO

"Last In, First Out," an inventory valuation method where the most recently produced or purchased items are the first to be expensed.

Absorption Costing

A costing method where all manufacturing costs including both direct costs like labor and materials and indirect costs like overhead are allocated to the product.