Hallmark Cards Develops a New Line of Cards That Have

question 109

Multiple Choice

Hallmark cards develops a new line of cards that have a total cost of $200,000 and a price of $3 each.If it sells 20,000 cards the first month, what is its total revenue?

• A) $60,000
• B) $600,000
• C) $400,000
• D) $140,000
• E) -$140,000

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Definitions:

Cost of Goods Sold

The specific costs incurred from the production of goods a business sells, including labor and materials.

Accounts Receivable

Outstanding payments due to a business from its customers for delivered or utilized services or products.

Certified Management Accountant

A professional certification for accountants and financial professionals in strategic management and financial accounting.

Certified Public Accountant

A certified status awarded to accountants who successfully complete a licensing exam and fulfill additional criteria set by the state.