The Relative Frequency of a Class in a Histogram Is

question 104

Multiple Choice

The relative frequency of a class in a histogram is computed by

• A)dividing the frequency of the class by the number of classes.
• B)dividing the frequency of the class by the class width.
• C)dividing the frequency of the class by the total of all frequencies.
• D)None of these choices.

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Definitions:

Conversion Costs

Combined costs of direct labor and manufacturing overheads incurred to convert raw materials into finished products.

FIFO Method

An inventory valuation method where the first items acquired are the first ones sold, used to calculate the cost of goods sold and ending inventory.

Direct Materials Costs

The expenses incurred for raw materials that are directly involved in the manufacturing of products.

FIFO Method

A stock rotation system where the oldest stock (first in) is used or sold first (first out).