Norman Company Sells MP3 Players for $60 Each

question 183

Multiple Choice

Norman Company sells MP3 players for $60 each. Variable costs are $40 per unit, and fixed costs total $60,000. How many MP3 players must Norman sell to earn net income of $140,000?

• A) 10,000.
• B) 3,500.
• C) 2,500.
• D) 3,000.

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Definitions:

Standard error

A measure of the statistical accuracy of an estimate, indicating the variability of sample means around the population mean.

Standard deviation of population

A measure that quantifies the variation or spread of a set of data points in a population.

SAT scores

Standardized test scores used for college admissions in the United States, assessing a student's readiness for college.

Standard deviation

A measure that quantifies the amount of variation or dispersion of a set of data values.