Use the Following Information for Questions
Custom Shoes Co -What Is the Total Cost Per Pair of Shoes?
A)

question 106

Multiple Choice

Use the following information for questions
Custom Shoes Co. has gathered the following information concerning one model of shoe: $\begin{array}{ll}\text { Variable manufacturing costs } & \$ 40,000 \\\text { Variable selling and administrative costs } & \$ 20,000 \\\text { Fixed manufacturing costs } & \$ 160,000 \\\text { Fixed selling and administrative costs } & \$ 120,000 \\\text { Investment } & \$ 1,700,000 \\\text { ROl } & 30 \% \\\text { Planned production and sales } & 5,000 \text { pairs }\end{array}$
-What is the total cost per pair of shoes?

• A) $40
• B) $68
• C) $168
• D) $96

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Definitions:

Quantity

A property that can exist as a multitude or magnitude, often measured and expressed as a number.

Confidence Interval

A range of values derived from sample data that is likely to contain the value of an unknown population parameter, with a specified level of confidence.

Population Variance

The measurement of how data points in an entire population are spread out from the mean of the population.

Standard Deviation

The measure of the dispersion or variability in a set of numbers, indicating how spread out the numbers are from the mean.