Timkon Manufacturing Has Provided the Following Operating Results for Its

question 106

Multiple Choice

Timkon Manufacturing has provided the following operating results for its recent operations:
$\begin{array}{lr}\text { Beginning inventory of finished goods } & 4,500 \\\text { Units produced (no work in process) } & 10,000 \\\text { Units sold } & 12,500 \\\text { Units in ending inventory of finished goods } & 2,000\\\text { Sales price }&\$ 50 \text { per unit }\\\text { Variable manufacturing costs }&\$ 20 \text { per unit }\\\text { manufactured Variable selling expenses }&\$ 2 \text { per unit sold }\\\text { Variable administrative expenses } & \$ 1 \text { per unit sold Fixed manufacturing } \\\text { costs for the year } & \$ 100,000 \\\text { Fixed selling expenses for the year } & \$ 52,000 \\\text { Fixed administrative expenses for the year } & \$ 84,000\end{array}$
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Using the absorption method, cost of goods manufactured for the year is:

• A)$200,000
• B)$300,000
• C)$230,000
• D)$330,000

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Definitions:

Esteem

A regard for oneself with respect or admiration; confidence and pride in oneself.

Safety And Security

refers to the condition of being protected from or not exposed to danger or risk, and having one's basic human needs met.

Physiological Needs

Basic physical requirements including food, water, air, and shelter that must be met to maintain life.

Love And Belongingness

A human emotional need to be an accepted member of a group, as postulated in Maslow's hierarchy of needs.