The following income statements are provided for Li Company's last two years of operation: Year 1 Year 2Number of units produced and sold 3,500 3,000 Sales revenue$101,500 $87,000 Cost of goods sold 68,000 60,000 Gross margin 33,500 27,000 General, selling, and administrative expenses 13,000 12,000 Net income$20,500 $15,000 Assuming that cost behavior did not change over the two-year period, what is the amount of the company's variable cost of goods sold per unit?
A. $22.00 per unit
B. $16.00 per unit
C. $12.00 per unit
D. None of these
Answer: B
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Each culture contains smaller ________, or groups of people with shared value systems based on common life experiences and situations
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