Use the Midpoint Formula to Estimate the Sales of Dollar

question 18

Multiple Choice

Use the Midpoint Formula to estimate the sales of Dollar Tree Stores,Inc.in 2005,given the sales in 2003 and 2007.Assume that the sales followed a linear pattern. Dollar tree
Year
Sales (in millions)
2003
2200
2007
4283

• A)$3241.5 million
• B)$3251.5 million
• C)$3246.5 million
• D)$3256.5 million
• E)$3261.5 million

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Definitions:

Equivalent Unit

A measure used in cost accounting to express the amount of work done on partially completed goods in terms of fully completed units.

Factory Overhead

Indirect manufacturing costs that are not tied directly to specific units of product, such as maintenance, utilities, and rent of a factory.

Direct Labor

Direct labor refers to the wages paid to workers who are directly involved in the production of goods or services, such as assembly line workers.

Direct Materials

Raw materials that can be directly attributed to the production of goods, evident in the final product.