Reference: 08-15
Jimbob Co There Were No Beginning Inventories

question 32

Multiple Choice

Reference: 08-15
Jimbob Co.'s records include the following information for the month of January: $$\begin{array} { | l | l | l | } \hline \text { Units manufactured } && 5,000 \\\hline \text { Units sold } & & 4,000 \\\hline \text { Selling price per unit } && \$ 50 \\\hline \text { Variable manufacturing costs per unit: } & & \\\hline \text { Direct materials } && \$ 5 \\\hline \text { Direct labour } & & \$ 2 \\\hline \text { Manufacturing overhead } && \$ 1 \\\hline \begin{array} { l } \text { Variable selling and administrative expenses per } \\\text { unit sold }\end{array} && \$ 1 \\\hline \text { Total fixed costs: } & & \\\hline \text { Manufacturing overhead } && \$ 10,000 \\\hline \text { Selling and administrative expenses } && \$ 20,000 \\\hline\end{array}$$ There were no beginning inventories.
-Using variable costing, what is the net income for January?

• A)$136,000.
• B)$134,000.
• C)$158,000.
• D)$185,000.

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Definitions:

Values Conflict

A situation of conflict that arises when differing and incompatible values are in opposition.

Self-Definition

The way in which an individual characterizes themselves, often encompassing values, beliefs, and personal identity.

Basic Beliefs

Fundamental convictions or attitudes that people hold as true without needing constant reassurance or evidence.

Low Conformer

An individual who shows little adherence to group norms or societal expectations, often pursuing an independent or unconventional path.