Which of the Following Is the Correct Flow of Manufacturing

question 72

Multiple Choice

Which of the following is the correct flow of manufacturing costs?

• A) Raw materials, work in process, finished goods, cost of goods sold
• B) Raw materials, finished goods, cost of goods sold, work in process.
• C) Work in process, finished goods, raw materials, cost of goods sold
• D) Cost of goods sold, raw materials, work in process, finished goods.

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Definitions:

Full Employment GDP

An economic condition where all available labor resources are being used in the most efficient way possible, reflecting the highest level of economic output.

Unemployment Level

The fraction of working-age individuals without a job, yet actively trying to find one.

Output

The complete volume of goods or services created by a firm, industry, or the economy as a whole.

National Debt

The cumulative sum of funds a nation's government owes due to borrowing, which remains unpaid.