Last Year, Kirsten Corporation's Variable Costing Net Operating Income Was

question 177

Multiple Choice

Last year, Kirsten Corporation's variable costing net operating income was $63,400. Fixed manufacturing overhead costs released from inventory under absorption costing amounted to $10,700. What was the absorption costing net operating income last year?

• A) $10,700
• B) $74,100
• C) $63,400
• D) $52,700

Recognize the procedural and substantive aspects of due process under the Constitution.

Understand the conditions under which the protection against double jeopardy and self-incrimination apply.

Recognize the assumptions underlying the rational and bounded rationality models of decision making.

Grasp the concept of rationality in decision making, including optimizing and satisficing behaviors.

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Definitions:

Collateral Contract

A secondary agreement made in addition to a primary contract, which induces a party to enter into the primary contract.

Leading Object Rule

A legal principle in contract law used to determine whether a promise is enforceable under the Statute of Frauds.

Parol Evidence Rule

A legal principle that prohibits the use of oral or extrinsic evidence to contradict, vary, or add to the terms of a written contract.

Collateral Promise

A secondary promise to pay another person's debt only if that person fails to pay.