Monex Reported $65,000 of Net Income for the Year by Using

question 47

Multiple Choice

Monex reported $65,000 of net income for the year by using absorption costing. The company had no beginning inventory, planned and actual production of 20,000 units, and sales of 18,000 units. Standard variable manufacturing costs were $20 per unit, and total budgeted fixed manufacturing overhead was $100,000. If there were no variances, net income under variable costing would be:

• A)$15,000.
• B)$55,000.
• C)$65,000.
• D)$75,000.
• E)$115,000.

Understand the tools and methods used to amplify and measure body sounds.

Identify and define conditions related to body temperature, pulse, and respiration rate.

Know the locations and methods for measuring pulse points in the human body.

Understand the importance of measuring vital signs in different body positions.

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Definitions:

Aluminum Futures

Contracts to buy/sell aluminum at a future date at a price agreed upon today, used for hedging or speculation on the aluminum market.

Short

Refers to short selling, a strategy used by investors who anticipate a stock's price will decline, allowing them to buy back at a lower price.

CME Weather Futures

Financial derivatives traded on the Chicago Mercantile Exchange that allow for hedging or speculation on weather-related risks.

Cash-Settled Contract

A financial agreement where the difference in the value of a contract is exchanged in cash rather than through physical delivery of goods or assets.