The Sylvester Company Has Gathered the Following Information There Were No Beginning or Ending Inventories

question 187

Multiple Choice

The Sylvester Company has gathered the following information: $\begin{array}{ll}\text { Sales } & \$ 67,000 \\\text { Direct materials used } & 10,900 \\\text { Direct labor } & 3,200\\\text { Fixed: }\\\text { Factory overhead }&5,400\\\text { Selling expenses } & 2,300 \\\text { Administrative expenses } & 1,700\end{array}$ $\begin{array}{lr}\text { Variable: }\\\text { Factory overhead } & 2,300 \\\text { Selling expenses } & 5,700 \\\text { Administrative expenses } & 8,300\end{array}$ There were no beginning or ending inventories. The total product costs are:

• A) $39,800
• B) $19,600
• C) $21,800
• D) $14,100

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Definitions:

Demand for Gasoline

The consumer's desire and ability to purchase gasoline at various price points.

Unit Elastic

A situation in economics where a change in the price of a good or service results in a proportional change in the quantity demanded or supplied.

Very Inelastic

Describes a situation where the demand or supply for a good or service is minimally responsive to changes in price.

Very Elastic

Refers to a situation in which the demand or supply for a product changes significantly in response to price changes, indicating high sensitivity.