Flint Enterprises Had the Following Cost and Production Information for April

question 28

Multiple Choice

Flint Enterprises had the following cost and production information for April: Inventory increased by 3,000 units during April. What is Flint Enterprise's income under variable costing?

• A) $1,400,000
• B) $1,460,000
• C) $1,745,000
• D) $1,785,000

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Definitions:

Balance Sheet

is a financial statement that provides a snapshot of a company's financial condition at a specific time, detailing assets, liabilities, and owners' equity.

Owners' Equity

The residual interest in the assets of a company after deducting its liabilities, representing the ownership's stake.

Cash Dividends

Payments made by a corporation to its shareholders, usually as a distribution of profits.

Initial Investment

The amount of money used to start a venture, purchase assets, or establish the financial foundation of a business.