As a Graphic Artist,Nate Has Just Finished Producing a New

question 51

Multiple Choice

As a graphic artist,Nate has just finished producing a new calendar.Nathan's calendar cost him $1.00 for the shiny paper,$2.00 for the six color production,and $.25 for the plastic wire that holds it together at the top.The labor in developing the design was 4 hours of work @ $50/hour,and labor is being added to the rest of the fixed costs of $400.00.At a price of $12.00 per calendar,how many calendars will Nathan need to produce and sell in order to break even cover all his costs,but not make a profit) ?

• A)690 calendars
• B)25 calendars
• C)40 calendars
• D)69 calendars

Recognize the role of social psychology in addressing practical and social problems.

Appreciate the importance of intervention strategies in applied social psychology.

Understand the influence of social situations and individual differences on behavior.

Identify the contributions of key figures and historical perspectives in applied social psychology.

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Definitions:

FIFO

"First In, First Out," an inventory valuation method where goods first bought are the first ones sold, affecting the cost of goods sold and inventory on financial statements.

Ending Inventory

The total value of a company's merchandise, raw materials, and finished and unfinished products which have not yet been sold at the end of an accounting period.

Perpetual Inventory System

An accounting method that records inventory purchases and sales in real time, providing a continuous account of inventory levels.