Catherman Corporation Manufactures One Product

question 264

Multiple Choice

Catherman Corporation manufactures one product. It does not maintain any beginning or ending inventories. The company uses a standard cost system in which inventories are recorded at their standard costs and any variances are closed directly to Cost of Goods Sold.During the year, the company produced and sold 32,400 units at a price of $42.30 per unit. Its standard cost per unit produced is $36.90 and its selling and administrative expenses totaled $102,000. The company does not have any variable manufacturing overhead costs and it recorded the following variances during the year: The adjusted Cost of Goods Sold after closing all of the variances to Cost of Goods Sold will be closest to:

• A) $1,128,750
• B) $1,262,370
• C) $1,195,560
• D) $1,303,710

Identify the biological basis of adaptation and its significance in evolutionary theory.

Appreciate the complexities involved in the genetic versus environmental contributions to individual differences.

Understand the concept of reaction range and how it explains variability in trait expression given genetic and environmental factors.

Understand the concept of incremental cash flows in evaluating a new project and distinguish between relevant and irrelevant costs.

---

Definitions:

Above

In a higher position or level than something else, indicating location or hierarchy.

Away From

A direction or movement that leads an object or person to increase distance from a specific point or location.

Underdevelopment

A condition characterized by a lack of economic growth, inadequate social services, and poverty, often referring to countries with a low standard of living and industrial capacity.

Tissue

A group of similar cells and their extracellular matrix that together perform specific functions within an organism.