A Firm Produces and Sells Two Products,Plus and Max

question 90

Multiple Choice

A firm produces and sells two products,Plus and Max.The following information is available relating to setup costs (a part of factory overhead) : Using number of setups as the activity base,the amount of setup cost allocated to each unit of product for Plus and Max,respectively is:

• A)$21.60;$.54.
• B)$54.00;$27.00.
• C)$60.00;$60.00.
• D)$108.00;$2.70.
• E)$200.00;$16,000.

Learn about conservation strategies, including in situ and ex situ techniques.

Grasp the significance of biological diversity and ecosystem services.

Understand the legal definitions and conservation status of species (endangered, threatened).

Recognize the role of environmental sustainability in conserving biodiversity.

---

Definitions:

Specific Identification

An inventory valuation method that tracks the cost of individual items or batches of items throughout the purchasing and sales process.

FIFO Method

A method of inventory costing that assumes the first goods purchased are the first goods sold, affecting the cost of goods sold and ending inventory valuation.

LIFO Method

An inventory management and valuation approach where the last items placed in inventory are the first ones sold.

GAAP

Generally Accepted Accounting Principles, a set of accounting standards and procedures used in the United States to ensure financial statements are consistent and transparent.