Hinge Manufacturing's Cost of Goods Sold Is $420,000 Variable and $240,000

question 95

Multiple Choice

Hinge Manufacturing's cost of goods sold is $420,000 variable and $240,000 fixed. The company's selling and administrative expenses are $300,000 variable and $360,000 fixed. If the company's sales is $1,580,000, what is its net income?

• A) $260,000
• B) $860,000
• C) $920,000
• D) $980,000

Differentiate between various behavioural therapies and their intended outcomes.

Understand the role of token economies and positive reinforcement in behaviour modification.

Learn the significance of modelling and social skills training in addressing psychological disorders.

Grasp the concept and treatment strategies for phobias through systematic desensitization.

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Definitions:

Lower of Cost or Market

Accounting principle where inventory is stated at the lower value between its original cost and current market price.

Inventory Item

A specific product or material that a company holds in stock with the intent to sell or use in the production process.

Inventory Value

The total cost or market value of all items held in stock by a business, including raw materials, work-in-progress, and finished goods.

Perpetual FIFO Method

is an inventory valuation technique assuming that the first items purchased (First In) are the first ones sold (First Out), continuously updated for each transaction.