In Its First Year of Operations,a Company Has Sales of $100,000,ending

question 58

Multiple Choice

In its first year of operations,a company has sales of $100,000,ending finished goods inventory of $9,000,variable manufacturing costs of $50,000,and fixed manufacturing costs of $28,000 for the year.Assuming the company uses direct costing,the manufacturing margin for the year is

• A) $22,000.
• B) $31,000.
• C) $59,000.
• D) $13,000.

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Definitions:

Instrumental Values

Values that relate to the means of achieving desired ends; they are considered supportive in reaching goals.

Responsibility

The state or fact of having a duty to deal with something or of having control over someone, often involving accountability and ethical obligations.

Allegory of the Cave

The Allegory of the Cave is a theory put forward by Plato, concerning human perception and knowledge, suggesting that people are trapped in a world of illusions and need intellectual enlightenment to perceive reality.

Plato

An ancient Greek philosopher, a student of Socrates and teacher of Aristotle, whose writings are foundational in Western philosophy.