Keyser Corporation, which has only one product, has provided the following data concerning its most recent month of operations: Selling price$118 Units in beginning inventory 400Units produced 2,100Units sold 2,300Units in ending inventory 200 Variable costs per unit: Direct materials$37Direct labor$23Variable manufacturing overhead$3Variable selling and administrative expense$5Fixed costs: Fixed manufacturing overhead$73,500Fixed selling and administrative expense$29,900 The company produces the same number of units every month, although the sales in units vary from month to month. The company's variable costs per unit and total fixed costs have been constant from month to month. What is the net operating income for the month under absorption costing?
A. $4,600
B. $11,600
C. $24,200
D. $7,000
Answer: A
You might also like to view...
Describe the arguement put forward by the Nobel laurete Robert E. Lucas about the flaws in the large structural macroeconomic models.
What will be an ideal response?
First and foremost, the public relations practitioner is
A) a professional communicator. B) respected by management. C) a supervisor who depends on e-mail to communicate. D) a trusted adviser.
A medium that appeals to a large geographic audience may have substantial waste for a local retailer
Indicate whether the statement is true or false
Consider the following information for three stocks, A, B, and C. The stocks' returns are positively but not perfectly positively correlated with one another, i.e., the correlations are all between 0 and 1. ? Stock Expected Return Standard Deviation ? Beta A 10% 20% 1.0 B 10% 10% 1.0 C 12% 12% 1.4 Portfolio AB has half of its funds invested in Stock A and half in Stock B. Portfolio ABC has one third of its funds invested in each of the three stocks. The risk-free rate is 5%, and the market is in equilibrium, so required returns equal expected returns. Which of the following statements is CORRECT?
A. Portfolio AB has a standard deviation of 20%. B. Portfolio AB's coefficient of variation is greater than 2.0. C. Portfolio AB's required return is greater than the required return on Stock A. D. Portfolio ABC's expected return is 10.66667%. E. Portfolio ABC has a standard deviation of 20%.