Ideal Company Ideal Company Produces and Sells a Single Product

question 23

Multiple Choice

Ideal Company Ideal Company produces and sells a single product.Information on its costs follow:
$\begin{array}{ll}\text{Variable costs:}\\~~\text { SG\&A } & \$ 2 \text { per unit } \\~~\text { Production } & \$ 4 \text { per unit } \\\text { Fixed costs: } & \\~~\text { SG\&A } & \$ 12,000 \text { per year }\\~~\text { Production } & \$ 15,000 \text { per year } \end{array}$ Refer to Ideal Company.Assume Ideal Company produced and sold 5,000 units.At this level of activity,it produced a profit of $18,000.What was Ideal Company's sales price per unit?

• A)$15.00
• B)$11.40
• C)$9.60
• D)$10.00

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Definitions:

Mean Difference

The average difference between each of two sets of numbers, often used in statistical analysis to compare two groups.

Math Scores

Quantitative assessments of individuals' proficiency in mathematics, typically resulting from tests or examinations.

Paired T-test

A statistical method used to compare the means of two related groups to determine if there is a significant difference between them.

Significance Level

A statistical measure used in hypothesis testing to determine the threshold at which an observed data point or result is considered to be statistically significant.