Hathaway Inc During April,Hathaway Actually Produced and Sold 1200 Umbrellas

question 103

Multiple Choice

Hathaway Inc.produces and sells golf umbrellas to local resorts.Hathaway anticipates April to be a busy month with the sale of 1000 umbrellas.The company has prepared the following static budget for April:
$\begin{array}{lr} \text {Sales revenue (1000 units) } &\$5000\\ \text { Variable costs:} &\\ \text { Direct materials } &5000\\ \text { Direct labour} &6000\\ \text { Overhead } &1500\\ \text { Fixed costs} &\underline{4000}\\ \text { Net income}&\underline{\$23500}\end{array}$

During April,Hathaway actually produced and sold 1200 umbrellas.What should be Hathaway's net income in April based on a flexible budget?

• A) $29 000
• B) $28 200
• C) $31 500
• D) $29 300

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Definitions:

Executive Processes

Cognitive functions that involve planning, decision-making, problem-solving, and controlling attention and behavior.

Working Memory

A cognitive system responsible for temporarily holding and processing information needed for complex tasks such as learning, reasoning, and comprehension.

Short-term Memory

The part of the memory system where information is stored for a short duration, typically seconds to minutes, before it is either forgotten or transferred to long-term memory.

Flashbulb Memory

A highly detailed, exceptionally vivid 'snapshot' of the moment and circumstances in which a piece of surprising and consequential (or emotionally arousing) news was heard.