Use the Figure to Answer the Following Question(s)

question 255

Multiple Choice

Use the figure to answer the following question(s) .
Figure 9-8
-If the market price in Figure 9-8 increases to $4, indicate the firm's profit-maximizing output and total revenue.

• A) output, 15; total revenue, $45
• B) output, 15; total revenue, $60
• C) output, 17; total revenue, $68 (approx.)
• D) output, 20; total revenue, $80

---

Definitions:

Production Cost Report

A detailed document outlining the costs associated with the production of goods, including materials, labor, and overhead.

Ending Work In Process

The value of all unfinished goods held by a company at the end of an accounting period.

Transferred Out

Refers to costs or goods that have been moved from one process or department to another in the production process.

Conversion Costs

Costs involved in converting raw materials into finished goods, typically consisting of labor and overhead expenses.