On January 1, 20B, Grover Inc

question 44

Multiple Choice

On January 1, 20B, Grover Inc., started the year with a $22,000 credit balance in its retained earnings account. During 20B, the company earned profit of $40,000 and declared and paid dividends of $10,000. Also, the company received cash of $15,000 as an additional investment by its owners. Therefore, the balance in retained earnings on December 31, 20B, would be which of the following?

• A) $67,000.
• B) $57,000.
• C) $52,000.
• D) $42,000.

Understand the importance of grading and quality assessment in marketing channels.

Comprehend the role of marketing channels in product distribution strategies.

Understand the roles and functions of intermediaries in marketing channels for business and consumer products.

Identify the most common distribution channels and their applicability based on product type and market conditions.

---

Definitions:

Variable Component

Part of a cost or expense that changes in proportion with the level of activity or volume of output.

Fixed Component

A portion of a cost that does not change with the level of production or sales over the short term.

Overapplied

A scenario in which the overhead costs allocated are higher than the overhead costs that were actually incurred.

Standard Cost System

An accounting method that uses predetermined costs for valuing inventory and recognizes variances between these costs and actual costs.