Answer the Following Question(s)using the Information Below

question 61

Multiple Choice

Answer the following question(s) using the information below:
Complete Microfilm Products manufactures microfilm cameras.For October there were no beginning inventories of direct materials, and no beginning or ending work-in-process.Only one indirect manufacturing cost category is currently in use, "Conversion Costs." Journal entries are recorded when materials are purchased and when units are sold using backflush costing.
-A trigger point is defined as

• A)a stage in the cycle going from the purchase of direct materials to the sale of finished goods at which point journal entries are made in the accounting system.
• B)a stage in the cycle going from the purchase of accounting software to the sale of finished goods at which point journal entries are made in the new accounting system.
• C)a stage in the cycle going from the sale of finished goods at which point journal entries are made in the accounting system.
• D)a stage in the cycle going from the purchase of direct materials at which journal entries are made in the accounting system.
• E)a stage in the cycle going from the purchase of direct materials to the sale of finished goods at which no journal entries are made in the accounting system.

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Definitions:

Demand Curves

Graphical representations of the relationship between the price of a good and the quantity demanded by consumers at various prices.

Elastic

Describes a situation where the quantity demanded or supplied changes significantly when the price changes.

Marginal Revenue

The additional income received from selling one more unit of a good or service.

Marginal Cost

The additional cost incurred from producing one more unit of a good or service.