Monthly Output at Leisure-Time,Inc

question 20

Multiple Choice

Monthly output at Leisure-Time,Inc.changed from 12 to 13 prefabricated gazebos,and the total costs changed from $9,000 to $10,500.What is the marginal cost for this company?

• A) $1,500
• B) $2,000
• C) $1,200
• D) $10,000
• E) $12,000

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Definitions:

End-of-period Spreadsheet

An end-of-period spreadsheet is a tool used in accounting to compile all account balances at the end of a reporting period for review and adjustment.

Common Stock

Common Stock denotes an equity interest in a corporation, providing voting rights and entitling the holder to a share of the company’s success through dividends and capital appreciation.

End-of-period Spreadsheet

A comprehensive worksheet that summarizes all accounts and balances at the end of an accounting period to facilitate the preparation of financial statements.

Net Income

The total profit of a company after all expenses, including taxes and operational costs, have been subtracted from total revenue.