Use the following information to answer the following Questions
Favaz began business at the start of this year and had the following costs: variable manufacturing cost per unit, $9; fixed manufacturing costs, $60,000; variable selling and administrative costs per unit, $2; and fixed selling and administrative costs, $220,000. The company sells its units for $45 each. Additional data follow.
-The income (loss) under variable costing is:
Definitions:
Marketable Securities
Financial instruments that can be easily sold or bought on public stock and bond markets.
Line Of Credit
A flexible loan from a bank or financial institution that allows a borrower to draw down, repay, and reborrow funds up to a specified credit limit.
Leverage
The use of borrowed funds to increase one's investment capacity and potentially enhance the rate of return, also referring to influencing factors or the ability to influence outcomes.
Borrowing Money
The act of obtaining funds from lenders under the agreement to repay with interest within a specified timeframe.
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