Raimondo Corporation Makes One Product and Has Provided the Following

question 29

Multiple Choice

Raimondo Corporation makes one product and has provided the following information:The budgeted selling price per unit is $89. Budgeted unit sales for August is 8,300 units.Each unit of finished goods requires 4 pounds of raw materials. The raw materials cost $2.00 per pound.The direct labor wage rate is $21.00 per hour. Each unit of finished goods requires 2.6 direct labor-hours.Manufacturing overhead is entirely variable and is $7.00 per direct labor-hour.The estimated cost of goods sold for August is closest to:

• A) $519,580
• B) $577,680
• C) $670,640
• D) $151,060

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Definitions:

Comparable Worth

A principle that calls for equal pay for work of equal value by considering the nature, skill, and responsibility of work, aiming to address gender pay gaps.

Americans with Disabilities Act (ADA)

A civil rights law that prohibits discrimination against individuals with disabilities in all areas of public life, including jobs, schools, transportation, and all public and private places open to the general public.

Qualification Standards

Established criteria that individuals must meet to be eligible for a particular position or task, often related to education, experience, and skills.

Disabled Workers

Individuals with disabilities who are part of the workforce, sometimes referring to the special legal protections and accommodations they are entitled to.