The Following Are All Examples of Product Costs

question 100

Multiple Choice

The following are all examples of product costs:

• A) Direct material, direct labor and indirect labor.
• B) Direct labor, VP of sales salary, and insurance on the factory.
• C) Depreciation on the factory equipment, depreciation on the office building, and depreciation on the factory building.
• D) Factory insurance, interest expense, and property taxes on the factory.
• E) Office supplies, sales commissions, and maintenance costs on office copier.

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Definitions:

Histogram

A graphical representation of the distribution of numerical data, where the data is divided into bins, and the frequency of data in each bin is depicted by the height of the bar.

Mean

The average of a set of numbers, calculated by adding them all up and dividing by the count of those numbers.

Median

The middle value in a data set when the values are arranged in ascending or descending order, or the average of the two middle values if there is an even number of values.

Skewed

Describes data that is not symmetrically distributed, often leaning more heavily towards one side of the scale.