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The production cost report for Department 2 shows that $454,000 was assigned to the 50,000 units transferred to Finished Goods Inventory.Cost of goods manufactured equals $454,000.Process costing is used.
Consumption
Consumption refers to the use of goods and services by households for personal satisfaction or living standards.
Credit Availability
Refers to the ease with which individuals or businesses can obtain loans or credit from financial institutions.
Durable Goods
are items with a long life expectancy, such as automobiles, furniture, and appliances, typically used over years rather than consumed quickly.
Disposable Income
The accessible funds for households intended for saving and spending, after subtracting taxes on income.
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