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WebFlicks Is an Online DVD Company That Produces Its Own

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WebFlicks is an online DVD company that produces its own DVD copies of first-run movies that it sells for $8.00 each.The following information is available (Assume the same unit costs in all years) :  Variable costs:  Product royalty fees $3.30 per DVD  DVD production $1.20 per DVD  Selling and admin costs $0.80 per DVD  Fixed costs:  Production $128,000 per month  Selling and administration $130,000 per month \begin{array}{ll}\text { Variable costs: }\\\text { Product royalty fees } & \$ 3.30 \text { per DVD } \\\text { DVD production } & \$ 1.20 \text { per DVD } \\\text { Selling and admin costs } & \$ 0.80 \text { per DVD }\\\text { Fixed costs: }\\\text { Production }&\$ 128,000 \text { per month }\\\text { Selling and administration }&\$ 130,000 \text { per month }\\\end{array} During June, 160,000 DVDs were produced and 144,000 were sold.There were 17,000 DVDs in beginning inventory.How much is net income per month under variable costing?

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Definitions:

Initial Endowment

The original distribution of resources, wealth, or abilities that individuals or groups possess in an economic model.

Pareto Optimal

A state of allocation of resources from which it is impossible to make any individual better off without making at least one individual worse off.

Utility Function

An economic model that describes how consumers rank different bundles of goods based on the levels of happiness or satisfaction they provide.

Initial Endowment

The initial set of assets, financial resources, or goods that an individual, institution, or economy possesses.

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