The 2010 and 2012 Market Share Data of the Three

question 2

Multiple Choice

The 2010 and 2012 market share data of the three competitors (Alston,Baren,and Clemson) in an oligopolistic industry are presented in the following pie charts.Total sales for this industry were $1.5 billion in 2010 and $1.8 billion in 2012. Baren's sales in 2010 were ___________.

• A)$342 million
• B)$630 million
• C)$675 million
• D)$828 million
• E)$928 million

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Definitions:

First-In, First-Out

An inventory accounting method where goods first purchased or manufactured are the first ones to be sold.

Completion Percentage

In project management and accounting, it refers to the ratio of work completed to the total scope of work, often used for progress billing and revenue recognition.

Equivalent Units

A concept in cost accounting used to convert partially completed goods into an equivalent number of fully completed units for inventory accounting purposes.

Conversion Costs

The combined costs of direct labor and overhead required to transform raw materials into finished goods.