Reference:
Boardman Company Reported the Following Data for the Month

question 97

Multiple Choice

Reference:
Boardman Company reported the following data for the month of January: $$\begin{array}{l}\begin{array} { | l | l | l | } \hline \text { Inventories: } & 1 / 1 & 1 / 31 \\\hline \text { Raw materials } & \$ 32,000 & \$ 31,000 \\\hline \text { Work in process } & \$ 18,000 & \$ 12,000 \\\hline \text { Finished goods } & \$ 30,000 & \$ 35,000 \\\hline\end{array}\\\begin{array} { | l | r | } \hline \text { Additional information: } & \\\hline \text { Sales revenue } & \$ 210,000 \\\hline \text { Direct labour costs } & 40,000 \\\hline \text { Manufacturing overhead costs } & 70,000 \\\hline \text { Selling expenses } & 25,000 \\\hline \text { Administrative expenses } & 35,000 \\\hline\end{array}\end{array}$$
-Assume that cost of goods sold for January was $124,000. The net income for January was:

• A)$51,000.
• B)$25,000.
• C)$61,000.
• D)$26,000.

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Definitions:

Narrow Sense Heritability

Narrow sense heritability is a measure of the proportion of phenotypic variance in a trait that can be attributed to additive genetic variance among individuals in a population.

Additive Effects

The cumulative impact of individual genes on a phenotype, where the total effect is the sum of the effects of each gene.

Dominance Effects

Phenomena where the phenotype of the heterozygote is closer to that of one of the homozygotes due to the dominant influence of one allele over another.

Epistatic Effects

Interactions between different gene loci where the effect of one gene is modified by the presence or absence of one or more 'modifier genes'.