Mccreary Corporation Manufactures One Product

question 99

Multiple Choice

Mccreary Corporation manufactures one product.It does not maintain any beginning or ending Work in Process inventories.The company uses a standard cost system in which inventories are recorded at their standard costs and any variances are closed directly to Cost of Goods Sold.The standard cost of the company's product is $28.00per unit.During the year the company sold 27,500 units at $36.30 per unit.The actual selling and administrative expenses were $121,000 for the year.The company does not have any variable manufacturing overhead costs and it recorded the following variances during the year:
The net operating income for the year is closest to:

• A) $107,250
• B) $55,272
• C) $118,446
• D) $79,816

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Definitions:

Borderline

Often referring to borderline personality disorder, a mental health condition characterized by unstable moods, behavior, and relationships.

Mood Fluctuations

Variations in a person's emotional state, ranging from extreme happiness to deep sadness, that can be normal or indicative of a mood disorder.

Personal Relationships

Interactions and bonds formed between individuals based on emotional connections, social ties, or professional contacts.

Anxious Ambivalent

Anxious ambivalent refers to a type of attachment style where individuals are overly needy and preoccupied with their relationships because they are constantly worried about their partner's ability to love them back.