The Three Components of Product Cost Include

question 127

Multiple Choice

The three components of product cost include:

• A)Direct material,indirect material,and labor.
• B)Material,direct labor,and indirect labor.
• C)Direct material,direct labor,and overhead.
• D)Indirect material,indirect labor,and overhead.

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Definitions:

F-Ratio

The ratio used in analysis of variance (ANOVA) to compare the variance between groups to the variance within groups.

Main Effect

The main effect is the impact of an independent variable on a dependent variable in a statistical model, ignoring other variables' influences.

Factor A

Factor A is often used in experimental design to represent one of the independent variables being tested for its effect on a dependent variable.

Reject

In statistical analysis, to refuse to accept a null hypothesis, based on the outcome of a test showing that observed data is unlikely under the hypothesis.