Trina makes handmade leis in Hawaii which she sells to local tourists. She anticipates August to be a busy month with the sale of 500 leis. She has prepared the following static budget for August: Sales revenue (500 units) $5,000 Variable costs: Direct materials 1,000 Direct labor 1,000 Overhead 375 Fixed costs 200 Net operating income $2,425 During August, Trina actually produced and sold 400
leis. What should be Trina's net operating income in August based on a flexible budget?
A) $1,940
B) $1,825
C) $1,425
D) $1,900
D
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Pure competition is a common competitive environment.
Answer the following statement true (T) or false (F)
A bank loan that only incurs finance charges and payment obligations when used for a business
is a A) promissory note. B) line of credit. C) note payable. D) all of the above.
ChoiceShirts is an online company that makes made-to-order T-shirts. Its online customers can order their shirts using any downloaded photo inserted into 600 templates or even design a shirt from scratch. This is an example of
A. mass customization. B. multiple products and multiple market segments. C. specialty customization. D. family branding. E. one product and multiple market segments.
The range of the scores is:
A) 4 B) 6 C) 8 D) 9