The Assembling Department of Weathercoat Liners,Inc

question 160

Multiple Choice

The Assembling Department of Weathercoat Liners,Inc.had 8000 units in process on December 1 and received 15,000 units from the Sewing Department.The company uses FIFO.Calculate the number of units to account for by the Assembling Department for December.

• A) 23,000 units
• B) 15,000 units
• C) 8000 units
• D) 7000 units

---

Definitions:

Producer Surplus

The difference between what producers are willing to accept for a good or service versus what they actually receive, often measured by the area above the supply curve and below the market price.

Demand Curve

A graph showing the relationship between the price of a good and the quantity of that good that buyers are willing to purchase, assuming all other factors remain constant.

Supply Curve

A graphical representation showing the relationship between the price of a good and the quantity supplied, typically upward sloping.

Producer Surplus

The mismatch between the monetary compensation producers consent to for a good or service and what they actually are paid.