An Economics Lecturer Bases His Final Grade on Tutorial Work,two

question 137

Multiple Choice

An economics lecturer bases his final grade on tutorial work,two mid-semester tests,and a final examination.The tutorial work counts 10% toward the final grade,while each mid-semester test counts 25%.The remaining portion consists of the final examination.If a student scored 95% in tutorial work,70% on the first mid-semester test,96% on the second mid-semester test,and 72% on the final exam,his final average would be _________.

• A) 78.9%
• B) 89.7%
• C) 79.8%
• D) 87.9%

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Definitions:

Product Costs

Costs that are directly associated with the creation of a product, including direct materials, direct labor, and manufacturing overhead.

Direct Materials

Raw materials that are directly traceable and integral to the finished product in the manufacturing process.

Selling Costs

All costs that are incurred to secure customer orders and get the finished product or service into the hands of the customer.

Indirect Costs

Costs that are not directly traceable to a single product or operation, such as overhead.