A Sawmill Processes Logs into Four Grades of Lumber Totalling

question 30

Multiple Choice

A sawmill processes logs into four grades of lumber totalling 500,000 board metres as follows at a joint cost of $300,000: $\begin{array}{lcc}\text { Grade } & \text { Board Metres } & \text { Final Sales Value }\\\text { First and second } & 75,000 & \$ 56,250 \\\text { No. } 1 \quad\text { common } & 200,000 & 180,000 \\\text { No. } 2 \quad\text { common } & 100,000 & 105,000 \\\text { No. } 3 \quad\text { common } & 125,000 & 127.500\end{array}$


- What is the gross profit of No.3 common if the constant gross margin percentage method is used?

• A)$45,900
• B)$81,600
• C)$135,000
• D)$168,750

Distinguish between different research methods and their applications in psychological studies.

Understand the concept and utilization of control and experimental groups in research design.

Recognize the role and definition of independent and dependent variables in experimental research.

Appreciate the ethical considerations and methodological rigor required in psychological experiments.

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Definitions:

Projected Benefit Obligation

A measurement of the present value of future pension benefits owed to employees, based on factors like salary history and years of service.

Plan Assets

Resources set aside by a company in a dedicated fund to meet future pension benefits or other long-term employee benefits.

Vested Benefits

Employee benefits, such as pension funds or stock options, that are fully granted and cannot be forfeited even if the employment is terminated.

Projected Benefit Obligation

A liability amount that represents an estimate of the total future pensions benefits earned by employees, adjusted for expected future salary increases.