Use the Following to Answer Questions

question 43

Multiple Choice

Use the following to answer questions :
Table 9-2
-The demand curve facing an imperfect competitor is given in Table 9-2.If the firm is able to produce at any output level, then the price and quantity which maximize total revenue are:

• A)P = 9; q = 8.
• B)P = 8; q = 12.
• C)P = 7; q = 16.
• D)P = 6; q = 20.
• E)P = 5; q = 22.

Become familiar with the cost of production report and its components.

Know the method of calculating equivalent units under FIFO and weighted-average methods.

Understand how costs flow through the accounts in a process costing system.

Recognize the appropriateness of applying process costing in various manufacturing scenarios.

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