Table 13-10 Jimmy's Gigaplots Factory

question 383

Multiple Choice

Table 13-10
Jimmy's Gigaplots Factory

-Refer to Table 13-10.What is the total cost of producing 7 gigaplots at Jimmy's Gigaplot factory?

• A) $140
• B) $150
• C) $153
• D) $158

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Definitions:

Credits

Accounting entries that increase liabilities or equity accounts, or decrease asset accounts.

Personal Equipment

Tangible items owned by an individual for personal use, not for business or commercial purposes.

Cash

Currency and other liquid instruments such as checks and bank deposits that are readily available for use in transactions and other immediate needs.

Normal Credit Balance

The expected balance type for certain accounts in the general ledger, such as liabilities, equity, and revenue accounts.