Columbia Corporation Produces a Single Product

question 330

Multiple Choice

Columbia Corporation produces a single product. The company's variable costing income statement for November appears below: During November, 35,000 units were manufactured and 8,000 units were in beginning inventory. Variable production costs per unit, total fixed manufacturing expenses, and the number of units produced were the same in prior months.Under absorption costing, for November the company would report a:

• A) $145,000 profit
• B) $125,000 profit
• C) $125,000 loss
• D) $120,000 profit

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Definitions:

Secondary Schemes

Developmental behaviors observed in infants from around 4 to 8 months of age, indicating the emergence of coordinated actions involving both sensory and motor activities.

Simple Reflex

A basic, automatic response to a stimulus that does not involve any conscious decision, such as the knee-jerk reaction.

Tertiary Circular Reactions

The purposeful adaptation of established schemes to new situations.

Visually Track

The ability to follow the movement of objects with one's eyes, an essential feature of visual perception.