Please Refer to the Partially Completed Worksheet Below: How

question 101

Multiple Choice

Please refer to the partially completed worksheet below: How much was the Net income?

• A) $42,000
• B) $13,600
• C) $22,020
• D) $28,400

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Definitions:

Fixed Cost

Expenses that do not change with the level of production or sales, such as rent, salaries, and insurance.

Fixed Costs

Expenses that do not change with the level of production or sales, such as rent, salaries, and insurance premiums.

Variable Costs

Expenses that change in proportion to the activity or production level of a business.

Output

The total amount of goods or services produced by a company or economy in a given period.