Figure 7-1
the Following Information Pertains to Mayberry Ltd -Refer to Figure 7-1

question 13

Multiple Choice

Figure 7-1
The following information pertains to Mayberry Ltd.: $\begin{array}{lr}\text { Beginning inventory } & 1,000 \text { units } \\\text { Ending inventory } & 6,000 \text { units } \\\text { Direct labour per unit } & £ 40 \\\text { Direct materials per unit } & 20 \\\text { Variable overhead per unit } & 10 \\\text { Fixed overhead per unit } & 30 \\\text { Variable selling and admin. costs per unit } & 6 \\\text { Fixed selling and admin. costs per unit } & 14\end{array}$
-Refer to Figure 7-1. What is the value of the ending inventory using the absorption costing method?

• A)£240,000
• B)£360,000
• C)£600,000
• D)£420,000

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Definitions:

Entrepreneurship

The process of initiating a business or businesses, facing financial dangers with the expectation of profit.

Serial Entrepreneur

A person who repeatedly starts new businesses, moving from one venture to another, and often leveraging the experiences and capital from previous successes.

Benefit Corporation (B-Corp)

A type of legal structure for a business that aims to generate profit while also focusing on positive impacts for society, workers, the community, and the environment.

Family Enterprising

The involvement of family members in developing and managing business ventures or entrepreneurial activities.