North American (General)
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mathematics with business applications. Chapter 14 production. This is the summary of Chapter 14. This chapter helped you learn about production in business. It is critical to know the time and cost of completing something Whenever you produce a product, the fixed and variable costs are measured in terms of both time and money. To achieve and maintain profitability, you must keep an eye on both. This is the quiz for Chapter 14. Ready to test your understanding of this chapter, you'll hear a series of questions. Each question will be followed by three possible answers than a short pause during which you can choose your answer. The correct answer will then be provided. Okay, let's go. Question one. What is it called when you determine how many units of a product must be made and sold to cover production expenses? A quality control? Be break even analysis. See a time study analysis. The correct answer is B break even analysis. Question two. What is the cost of goods used to produce an item called a The fixed cost? Be the production cost. See the direct material cost? The correct answer is C. The direct material cost question three. When the income from an item sale is equal to the cost of making the item. It is called a the prophet Be the break even point. See the sales price? The correct answer is B the break even point.