Steele Ltd $\text { Froduction costs per unit (based on } 10,000 \text { units) are as follows: }$

question 11

Multiple Choice

Steele Ltd. has the following information for January, February, and March 2011: $\begin{array}{lccc} & \text { January } & \text { February } & \text { March } \\\text { Units produced } & 10,000 & 10,000 & 10,000 \\\text { Units sold } & 7,000 & 8,500 & 10,500\end{array}$

$\text { Froduction costs per unit (based on } 10,000 \text { units) are as follows: }$

$\begin{array}{lr}\text { Direct materials } & £ 12 \\\text { Direct labour } & 8 \\\text { Variable factory overhead } & 6 \\\text { Fixed factory overhead } & 4 \\\text { Variable selling and admin. expenses } & 10 \\\text { Fixed selling and admin. expenses } & 4\end{array}$ There were no beginning inventories for January 2011, and all units were sold for £50. Costs are stable over the three months. What is the February ending inventory for Steele Ltd. using the absorption costing method?

• A)£39,000
• B)£45,000
• C)£135,000
• D)£300,000

Know how to manipulate Navigation forms and understand the impact of such actions on database navigation.

Grasp the concept and steps involved in splitting an Access database, including its purpose and outcomes.

Recognize how to change database appearance and display settings, such as setting the database title.

Understand the prerequisites for setting a database password and the steps involved.

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Definitions:

Target Profit Pricing

Setting a product price based on a predetermined profit objective, rather than market or competitive conditions.

Return-on-investment (ROI)

A financial metric utilized to evaluate the efficiency of an investment or compare the efficiency of several different investments.

Business-to-business Markets

Markets focused on selling products or services from one business to another rather than to individual consumers.

Public Utilities

Organizations that provide essential services to the public such as water, electricity, natural gas, and telecommunications.