Foxtrot Reported $65,000 of Income for the Year by Using

question 16

Multiple Choice

Foxtrot reported $65,000 of income for the year by using absorption costing. The company had no beginning inventory, planned and actual production of 20,000 units, and sales of 18,000 units. Standard variable manufacturing costs were $20 per unit, and total budgeted fixed manufacturing overhead was $100,000. If there were no variances, income under variable costing would be:

• A) $15,000.
• B) $55,000.
• C) $65,000.
• D) $75,000.
• E) $115,000.

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Definitions:

Ethnology

A branch of anthropology that studies and compares the different cultures and peoples of the world, focusing on their social structures, traditions, and customs.

Cross-Cultural Comparative Research

A research methodology that compares cultural contexts to understand their differences and similarities, often used in anthropology, psychology, and sociology.

Paleoanthropology

The scientific study of ancient humans and their relatives through fossils and other physical remains, exploring human evolution and prehistory.

Biocultural Approach

An analytical framework combining biological and cultural perspectives to understand human behavior and adaptation to environments.