Givenchy Company Sells 100,000 Wrenches for $12

question 50

Multiple Choice

Givenchy Company sells 100,000 wrenches for $12.00 per unit. Fixed costs are $350,000 and net income is $250,000. What should be reported as variable expenses in the CVP income statement?

• A) $540,000
• B) $600,000
• C) $950,000
• D) $850,000

---

Definitions:

Accommodation

Accommodation in psychology refers to cognitive process of adjusting one's mental schemas to incorporate new information from experiences.

Fovea

The fovea is a small, central pit composed of closely packed cones in the eye, responsible for sharp central vision necessary for activities like reading and driving.

Iris

The colored part of the eye surrounding the pupil, which adjusts the size of the pupil to regulate the amount of light entering the eye.

Pupil

The central, circular opening in the iris of the eye, which regulates the amount of light that enters the eye to reach the retina.