The Following Information Is Available for Barnes Company for the Fiscal

question 46

Multiple Choice

The following information is available for Barnes Company for the fiscal year ended December 31:
$\begin{array}{llr} \text { Beginning finished goods inventory in units } &0\\ \text {Units produced } &4,800\\ \text { Units sold } &4,000\\ \text { Sales } &\$400,000\\ \text { Materials cost } &\$96,000\\ \text { Variable conversion cost used } &\$48,000\\ \text { Fixed manufacturing cost} &\$72,000\\ \text { Indirect operating costs (fixed) } &\$80,000\\\end{array}$

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The absorption costing operating income is:

• A) $120,000
• B) $140,000
• C) $128,000
• D) $112,000

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Definitions:

Self-Determination

Refers to the process by which individuals control their own life, making choices and decisions based on their own preferences and interests without undue influence from others.

Option Rights

Entitlements that grant the holder the right, but not the obligation, to buy or sell a particular asset at a predetermined price within a specified timeframe.

Rights

Rights refer to the moral or legal entitlements to have or do something, recognized in society as fundamental to human welfare or justice.

Ethical

Pertaining to or dealing with morals, principles of morality and judgments of right and wrong behavior.