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Nielson Corp. sells its product for $6,600 per unit. Variable costs per unit are: manufacturing, $3,600, and selling and administrative, $75. Fixed costs are: $18,000 manufacturing overhead, and $24,000 selling and administrative. There was no beginning inventory at 1/1/15. Production was 20 units per year in 2015-2017. Sales were 20 units in 2015, 16 units in 2016, and 24 units in 2017.
-Income under variable costing for 2016 is
First-impression Error
The bias or mistake of forming a lasting opinion about someone based on the initial impression, potentially overlooking subsequent information.
Perceptual Errors
Mistakes or inaccuracies in the way individuals interpret or understand information, events, or the environment, often due to cognitive biases or misinterpretations.
Halo Effect
A cognitive bias in which one's overall impression of a person influences one's feelings and thoughts about that person's character.
Similarity Error
A bias in decision making or evaluation, where individuals are judged more favorably because they share similarities with the evaluator.
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