Figure 2-5 -Refer to Figure 2-5

question 47

Multiple Choice

Figure 2-5.In July, Econo Company purchased materials costing $21,000 and incurred direct labor cost of $18,000. Overhead totaled $32,000 for the month. Information on inventories was as follows:
$\begin{array}{lcc}&\text { July } 1&\text { July } 31\\\text { Materials } & \$ 6,200 & \$ 7,100 \\\text { Work in process } & \$ 700 & \$ 1,200 \\\text { Finished goods } & \$ 3,300 & \$ 2,700\end{array}$
-Refer to Figure 2-5. If Econo Company sold 10,000 units during July and gross margin totaled $29,800, what was the sales price per unit?

• A) $9.94
• B) $10.00
• C) $10.09
• D) $10.11

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Definitions:

Walter Mishel

A psychologist known for his research on personality and his work on the cognitive-affective personality system.

Fritz Heider

An Austrian psychologist best known for developing attribution theory, which explores how individuals infer causes of behavior and events.

Ingroup

A social group to which an individual feels they belong, often contrasting with an "outgroup" to which they do not identify.

Outgroup

A social group to which an individual does not identify or belong, often viewed with prejudice or discrimination.