Hulkster's 2016 Average Days in Inventory Is (Rounded)

question 199

Multiple Choice

Hulkster's 2016 average days in inventory is (rounded) :

• A)61 days.
• B)92 days.
• C)101 days.
• D)90 days.

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Definitions:

Direct Labor Costs

The total of all wages, benefits, and taxes paid to employees who are directly involved in the manufacturing of products.

Work in Process

Goods that are in various stages of the production process but are not yet completed.

Standard Cost Card

A document listing the standard costs associated with manufacturing a product, including labor, materials, and overhead.

Standard Cost System

A standard cost system estimates the costs of production in advance, using standard rates for materials and labor to assess efficiency and performance.