Timkon Manufacturing Has Provided the Following Operating Results for Its

question 42

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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Assuming beginning inventory cost per unit is not different than ending inventory cost, the value of the ending inventory under absorption costing is:

• A)$60,000
• B)$63,000
• C)$46,000
• D)$40,000

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Definitions:

Repeated Retrieval

A practice involving the frequent retrieval of information from memory over time, which enhances memory consolidation and retention.

Functionalist

Related to a perspective in sociology and psychology that emphasizes the importance of understanding the purpose or function of societal institutions or mental processes.

Emerging Discipline

A field of study that is in the process of establishing itself as a recognized branch of academic inquiry due to new interests or technological advances.

Industrial-Organizational Psychologist

A psychologist who applies psychological theories and principles to organizations and the workplace to improve productivity, work quality, and employee well-being.