Professor Z Needs to Allocate Time Among Several Tasks Next

question 11

Multiple Choice

Professor Z needs to allocate time among several tasks next week to include time for students' appointments.Thus,he needs to forecast the number of students who will seek appointments.He has gathered the following data:
Week # of students
6 weeks ago 83
5 weeks ago 110
4 weeks ago 95
3 weeks ago 80
2 weeks ago 65
Last week 50
-What is the forecast for this year using the last-value forecasting method?

• A)22,000
• B)20,000
• C)18,000
• D)15,000
• E)12,000

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Definitions:

Deferred Inventories

Inventory costs that are not expensed in the period they are incurred but are deferred to a future period.

Absorption Costing

This accounting practice involves adding all costs associated with production, including direct materials, labor, and both kinds of overhead expenses (variable and fixed), into the cost calculation of a product.

Unit Product Cost

The total cost (fixed and variable) associated with making one unit of product.

Fixed Manufacturing Overhead

Costs associated with the production process that do not vary with the level of output, such as salaries of managers or rent of the factory building.