Leheny Corporation Manufactures and Sells One Product

question 319

Multiple Choice

Leheny Corporation manufactures and sells one product. The following information pertains to the company's first year of operations: The company does not have any variable manufacturing overhead costs or variable selling and administrative expenses. During its first year of operations, the company produced 55,000 units and sold 50,000 units. The company's only product is sold for $238 per unit.Assume that the company uses a variable costing system that assigns $21 of direct labor cost to each unit that is produced. The net operating income under this costing system is:

• A) $1,400,000
• B) $1,005,000
• C) $1,110,000
• D) $580,000

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Definitions:

Personality Theorist

A psychologist or scholar specializing in the study of personality, examining the characteristics that make individuals unique and the patterns of thoughts, feelings, and behavior that distinguish one person from another.

Personality Theory

An attempt to describe and explain how people are different and what makes each individual's personality unique.

Traits Consistency

The degree to which individual personality traits remain stable and consistent across different situations and over time.

Control Belief

The perception of the extent to which one has power over their own environment and outcomes.