X-Beams Inc

question 119

Multiple Choice

X-Beams Inc. owned 70% of the voting common stock of Kent Corp. During 2013, Kent made several sales of inventory to X-Beams. The total selling price was $180,000 and the cost was $100,000. At the end of the year, 20% of the goods were still in X-Beams' inventory. Kent's reported net income was $300,000. What was the non-controlling interest in Kent's net income?

• A) $90,000.
• B) $85,200.
• C) $54,000.
• D) $94,800.
• E) $86,640.

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Definitions:

Upper Control Limit

The highest value on a control chart that signals when a process is out of control due to variables beyond normal fluctuations.

Sample Means

The average value calculated from a sample of items or individuals, used as an estimate of the population mean.

Basic Statistics

Fundamental principles and techniques used for collecting, analyzing, interpreting, and presenting data.

Control Charts

A tool used in statistical process control to monitor, control, and improve process stability by analyzing performance data over time.