Which of the Following Statements Is True About the Points

question 5

Multiple Choice

Which of the following statements is true about the points system?

• A)Points are assigned by the clients at the beginning of the project.
• B)The most difficult task is assigned a point score of 1.
• C)Consecutive integers are used to award point scores to tasks.
• D)Points estimate the relative difficulty, rather than the relative duration of tasks.

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Definitions:

Weighted-Average Method

an inventory costing method that assigns a cost to inventory and to the goods sold based on the average cost of all similar items available during a certain period.

Work in Process Inventory

The value of raw materials, labor, and overhead costs for products that are partially completed but not yet ready for sale.

Transferred Out

In a process costing environment, it refers to goods that have been completed in one department and moved to the next stage in the production process.

Production Costs

The total expenses incurred in the process of manufacturing or producing goods, including labor, materials, and overhead costs.